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Valero (VLO) to Report Q2 Earnings: What's in the Offing?
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Valero Energy Corporation (VLO - Free Report) is set to report second-quarter 2023 earnings on Jul 27, before the opening bell.
In the last reported quarter, the company’s adjusted earnings of $8.27 per share beat the Zacks Consensus Estimate of $7.24 per share, owing to increased refinery throughput volumes and a higher refining margin per barrel of throughput.
VLO’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 11.7%. This is depicted in the graph below:
The Zacks Consensus Estimate for Valero’s second-quarter earnings per share of $5.08 has witnessed one upward movement and five downward revisions over the past 30 days. The estimated figure suggests a 55.3% decline from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $34.8 billion indicates a 32.6% decline from the year-ago reported figure.
Factors to Note
Valero is one of the leading refining players in the United States. VLO’s diverse refining assets are centered around the prolific Gulf Coast area, which is highly profitable for the company. However, declining throughput volumes are likely to have hurt VLO’s bottom line in the second quarter.
The Zacks Consensus Estimate for Valero’s total throughput volumes in the second quarter is pegged at 2,896 thousand barrels per day, suggesting a decline from the 2,962 thousand barrels per day recorded in the year-ago quarter. Our estimate for total throughput volumes is pegged at 2,899 thousand barrels per day, also indicating a year-over-year decline.
The Zacks Consensus Estimate for Valero’s operating income from the refining segment is pegged at $2,844 million, suggesting a massive decline from the $6,212 million reported in the year-ago quarter. Our estimate for the metric is pegged at $2,886 million, also reflecting a year-over-year decline.
This is likely to have affected Valero’s performance in the second quarter.
Earnings Whispers
Our proven model does not indicate an earnings beat for Valero this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Valero’s Earnings ESP is 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate both are pegged at earnings of $5.08 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
The company is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $6.11 per share, suggesting a decline from the prior-year reported figure.
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +4.41% and a Zacks #3 at present.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 74 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +5.30% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 9 cents per share, suggesting a decline from the prior-year reported figure.
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Valero (VLO) to Report Q2 Earnings: What's in the Offing?
Valero Energy Corporation (VLO - Free Report) is set to report second-quarter 2023 earnings on Jul 27, before the opening bell.
In the last reported quarter, the company’s adjusted earnings of $8.27 per share beat the Zacks Consensus Estimate of $7.24 per share, owing to increased refinery throughput volumes and a higher refining margin per barrel of throughput.
VLO’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 11.7%. This is depicted in the graph below:
Valero Energy Corporation Price and EPS Surprise
Valero Energy Corporation price-eps-surprise | Valero Energy Corporation Quote
Estimate Trend
The Zacks Consensus Estimate for Valero’s second-quarter earnings per share of $5.08 has witnessed one upward movement and five downward revisions over the past 30 days. The estimated figure suggests a 55.3% decline from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $34.8 billion indicates a 32.6% decline from the year-ago reported figure.
Factors to Note
Valero is one of the leading refining players in the United States. VLO’s diverse refining assets are centered around the prolific Gulf Coast area, which is highly profitable for the company. However, declining throughput volumes are likely to have hurt VLO’s bottom line in the second quarter.
The Zacks Consensus Estimate for Valero’s total throughput volumes in the second quarter is pegged at 2,896 thousand barrels per day, suggesting a decline from the 2,962 thousand barrels per day recorded in the year-ago quarter. Our estimate for total throughput volumes is pegged at 2,899 thousand barrels per day, also indicating a year-over-year decline.
The Zacks Consensus Estimate for Valero’s operating income from the refining segment is pegged at $2,844 million, suggesting a massive decline from the $6,212 million reported in the year-ago quarter. Our estimate for the metric is pegged at $2,886 million, also reflecting a year-over-year decline.
This is likely to have affected Valero’s performance in the second quarter.
Earnings Whispers
Our proven model does not indicate an earnings beat for Valero this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Valero’s Earnings ESP is 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate both are pegged at earnings of $5.08 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Murphy USA Inc. (MUSA - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $6.11 per share, suggesting a decline from the prior-year reported figure.
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +4.41% and a Zacks #3 at present.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 74 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +5.30% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 9 cents per share, suggesting a decline from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.