Marathon Petroleum slides on 'underwhelming' Q1 but guidance indicates upbeat Q2 [Seeking Alpha]
Valero Energy Corporation (VLO)
Last valero energy corporation earnings: 4/29 06:30 am
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Source: Seeking Alpha
estimates, as investors appear to view the results as underwhelming by the company's recent high standards. Refining peers Valero Energy ( VLO ) and Phillips 66 ( PSX ) also trade lower, and respectively. Q1 net income fell by two thirds to $937M, or $2.58/share, from $2.72B, or $6.09/share, in the year-earlier quarter, and revenues slid 8.2% to $32.21B from $35.08B in the same period last year. Marathon ( MPC ) also said its board approved an incremental $5B stock buyback authorization, after returning ~$2.5B of capital to shareholders during Q1 through $2.2B of share repurchases and $299M of dividends. Q1 refining and marketing margin fell to $18.99/bbl from $26.15/bbl for the year-ago quarter, and crude capacity utilization dropped to 82%, resulting in a total throughput of 2.7M bbl/day, as $648M of planned maintenance and turnaround activity was the highest level in the company's history and as global refining margins eased from the highs seen in 2022-23. "Turnaround exp
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News
- Dow closes above 40K for first time [Yahoo! Finance]Yahoo! Finance
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- After Big Oil, It Is Time For Refining Stocks To Soar [Forbes]Forbes
- Valero Energy Co. (NYSE: VLO) was downgraded by analysts at Argus from a "buy" rating to a "hold" rating.MarketBeat
- Valero Energy Corporation Declares Regular Cash Dividend on Common StockBusiness Wire
VLO
Earnings
- 4/25/24 - Beat
VLO
Sec Filings
- 5/20/24 - Form 8-K
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- VLO's page on the SEC website