Valero Energy Corporation


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SKU: VLO-1 Category:


Valero Energy reported an excellent result with revenues and earnings well above Wall Street expectations as the company maximized the refining rates. The refinery utilization rate of the company increased in the quarter and the refining margins were reinforced by sustained energy cost advantage for the U.S. refineries, low product inventories, and strength in product demand. Because of the pent-up demand for travel and the summer driving season, the demand for products has been strong. The ethanol low-carbon renewable diesel segments performed well in the quarter. The segment of the renewable diesel had record production volumes, with the DGD expansion ramping up to full capacity. The project of the company Port Arthur Coker is expected to rise the throughput capacity of the refinery improving turnaround efficiency. Navigators and the BlackRock carbon sequestration project have been progressing on time. In the quarter, Valero Energy established an innovative service fuel station in Mexico. The management is looking to strengthen its long-term competitive advantage via refining optimization projects and also to grow its business via innovative low-carbon fuels, which enhance the margin capability of its portfolio. We provide the stock of Valero Energy with a ‘Hold’ rating and a revision in the target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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