Valero Energy 8-K
PositiveEarnings
Operating and commercial execution drove Renewable Diesel back to profit and lifted Refining and Ethanol earnings.
Filed 2026-07-30 08:15 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results, with higher earnings as Valero cited strong operating and commercial execution across all three segments. Net income attributable to Valero stockholders was $3.72B, or $12.62 diluted EPS, vs $714M, or $2.28, a year earlier; adjusted net income attributable to stockholders (non-GAAP) was $3.70B, or $12.54 per share. The $230M St. Charles FCC Unit optimization project remains expected to complete and begin operations in Q3 2026.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $44.5B | $29.9B | 48.8% |
| Operating income | $5.20B | $997M | 421% |
| Net income attributable to Valero stockholders | $3.72B | $714M | 421% |
| Adjusted net income attributable to Valero stockholders (non-GAAP) | $3.70B | $714M | 418% |
| Diluted EPS | $12.62 | $2.28 | 454% |
| Adjusted diluted EPS (non-GAAP) | $12.54 | $2.28 | 450% |
| Net cash provided by operating activities | $5.58B | $936M | 496% |
| Adjusted net cash provided by operating activities (non-GAAP) | $4.49B | $1.35B | 233% |
- Segment operating income: Refining $4.47B vs $1.27B; Renewable Diesel $717M vs a $79M loss; Ethanol $318M vs $54M. Valero attributed the stronger results to operations and commercial execution across the segments.
- Operating cash flow included a $706M favorable working-capital impact and $389M attributable to DGD’s other joint venture member; stockholder cash returns were $2.6B, a 59% payout ratio of adjusted operating cash flow. The quarterly dividend was $1.20 per share.
- June 30, 2026, balance sheet: $7.9B cash, $9.1B total debt, and $2.2B finance lease obligations; net-cash debt-to-capitalization ratio was 11%. Capital investments were $350M, including $346M attributable to Valero.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch for completion and start-up of the St. Charles FCC Unit optimization project in Q3 2026, its stated timing.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3