---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-045978"
form_type: "8-K"
ticker: "VLO"
cik: "0001035002"
company_name: "VALERO ENERGY CORP/TX"
filed_at: "2025-10-23T23:59:59+00:00"
generated_at: "2026-05-17T02:24:48.503056+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Valero Q3 net income $1.1B ($3.53/share) vs $364M a year ago; adjusted EPS $3.66 beats

## Summary
- Refining segment operating income $1.6B, up from $565M in Q3 2024; throughput 3.1M bpd at 97% utilization.
- Renewable Diesel segment posted $28M operating loss vs $35M income; Ethanol segment income $183M vs $153M.
- Returned $1.3B to shareholders ($351M dividends, $931M buybacks); payout ratio 78% of adjusted cash from ops.
- St. Charles FCC optimization project ($230M) expected to start H2 2026; debt/cap ratio 18% net of cash.
- Net cash from ops $1.9B; capital investments $409M in quarter.

## SEC filing metadata
- accession: 0001628280-25-045978
- form_type: 8-K
- ticker: VLO
- cik: 0001035002
- company_name: VALERO ENERGY CORP/TX
- filed_at: 2025-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035002/000162828025045978/0001628280-25-045978-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035002/000162828025045978/vlo-20251023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-045978
- JSON: https://secwatch.observer/filing/0001628280-25-045978.json
- Plain text: https://secwatch.observer/filing/0001628280-25-045978.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.