Valero Energy Corporation (NYSE:VLO) is included among the 10 Energy Stocks that Crushed Earnings Estimates in the First Quarter.
Valero Energy Corporation (NYSE:VLO) is the world’s premier independent petroleum refiner and a leading producer of low-carbon transportation fuels
Valero Energy Corporation (NYSE:VLO) reported an adjusted profit of $4.22 per share in its Q1 report on April 30, topping expectations by $1.06 on the back of strength in its refining segment, margins, and throughput volumes. Revenue for the quarter also surged by 7% YoY to $32.4 billion and beat estimates by over $2.5 billion. Valero Energy Corporation (NYSE:VLO)’s refining segment delivered an operating income of $1.8 billion in Q1, compared to an operating loss of $530 million in the same period last year.
The company’s margin per barrel of throughput was $14.90 during the quarter, up from $9.78 in the year-ago period, while average throughput volumes also surged by 3.6% to 2.9 million barrels per day. Valero Energy Corporation (NYSE:VLO) expects the $230 million St. Charles FCC optimization project to begin operations in the third quarter of this year.