The earnings call highlights several positive aspects, such as record refining throughput, strong shareholder returns, and a positive outlook for refining fundamentals. However, these are balanced by notable challenges, including declines in net income and losses in the renewable diesel segment. The planned closure of the Benicia Refinery also poses a future challenge.

Company Guidance -

Q3 2025

During Valero Energy Corp.'s Second Quarter 2025 Earnings Conference Call, the company provided guidance reflecting optimistic refining fundamentals amid several industry dynamics. For the second quarter, Valero reported a refining throughput volume averaging 2.9 million barrels per day, with a 92% throughput capacity utilization. Refining cash operating expenses were approximately $4.91 per barrel. The company expects third-quarter refining cash operating expenses to be around $4.80 per barrel, with specific throughput volume ranges provided for different regions. Although the Renewable Diesel segment faced challenges with an operating loss of $79 million, Valero remains committed to shareholder returns, maintaining a payout ratio of 52% for the quarter and announcing a quarterly cash dividend of $1.13 per share. Looking ahead, Valero anticipates capital investments of approximately $2 billion for 2025, with a significant focus on sustaining business operations and growth. Additionally, they expect sour crude oil differentials to widen as OPEC+ and Canada increase production in the latter half of the year.

Record Refining Throughput

Valero set a record for refining throughput rate in the U.S. Gulf Coast region during Q2 2025, demonstrating the benefits of growth and optimization projects.

Strong Shareholder Returns

Valero maintained a payout ratio of 52% in Q2 2025 and announced a quarterly cash dividend of $1.13 per share.

Refining Segment Performance

The refining segment reported $1.3 billion of operating income in Q2 2025 compared to $1.2 billion in Q2 2024.

Optimistic Refining Outlook

Valero remains optimistic about refining fundamentals, with planned refinery closures and limited capacity additions beyond 2025 expected to support market conditions.

Debt Management

Valero repaid $251 million of senior notes and ended Q2 2025 with a debt-to-capitalization ratio net of cash and cash equivalents at 19%.

Valero Energy (VLO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VLO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	3.08 / -	1.14	―	―	―
Jul 24, 2025	2025 (Q2)	1.75 / 2.28	2.71	-15.87% (-0.43)	―
Apr 24, 2025	2025 (Q1)	0.41 / 0.89	3.82	-76.70% (-2.93)	―
Jan 30, 2025	2024 (Q4)	0.07 / 0.64	3.55	-81.97% (-2.91)	―
Oct 24, 2024	2024 (Q3)	0.98 / 1.14	7.49	-84.78% (-6.35)	―
Jul 25, 2024	2024 (Q2)	2.60 / 2.71	5.4	-49.81% (-2.69)	―
Apr 25, 2024	2024 (Q1)	3.20 / 3.82	8.27	-53.81% (-4.45)	―
Jan 25, 2024	2023 (Q4)	2.96 / 3.55	8.45	-57.99% (-4.90)	―
Oct 26, 2023	2023 (Q3)	7.47 / 7.49	7.14	4.90% (+0.35)	―
Jul 27, 2023	2023 (Q2)	5.04 / 5.40	11.36	-52.46% (-5.96)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VLO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$146.34	$139.20	-4.88%
Apr 24, 2025	$112.62	$111.50	-0.99%
Jan 30, 2025	$136.07	$133.19	-2.12%
Oct 24, 2024	$128.67	$127.19	-1.15%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Valero Energy (VLO) report earnings?

Valero Energy (VLO) is schdueled to report earning on Oct 23, 2025, Before Open (Confirmed).

What is Valero Energy (VLO) earnings time?

Valero Energy (VLO) earnings time is at Oct 23, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is VLO EPS forecast?

VLO EPS forecast for the fiscal quarter 2025 (Q3) is 3.08.

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