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Valero Energy (VLO) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Valero Energy (VLO - Free Report) reported revenue of $34.51 billion, down 33.2% over the same period last year. EPS came in at $5.40, compared to $11.36 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $34.82 billion, representing a surprise of -0.88%. The company delivered an EPS surprise of +6.30%, with the consensus EPS estimate being $5.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Valero Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S. Gulf Coast region - Throughput volumes per day: 1800 KBBL/D compared to the 1754.14 KBBL/D average estimate based on four analysts.
U.S. Mid-Continent region - Throughput volumes per day: 434 KBBL/D versus the four-analyst average estimate of 419.63 KBBL/D.
North Atlantic region - Throughput volumes per day: 463 KBBL/D compared to the 462.63 KBBL/D average estimate based on four analysts.
U.S. West Coast region - Throughput volumes per day: 272 KBBL/D compared to the 262.45 KBBL/D average estimate based on four analysts.
Refining - Total Throughput volumes per day: 2969 Kbbl versus the four-analyst average estimate of 2896.22 Kbbl.
U.S. Gulf Coast region - Refining margin per barrel of throughput: $15.64 versus $18.83 estimated by four analysts on average.
Refining - Refining margin per barrel of throughput: $15.62 compared to the $16.91 average estimate based on four analysts.
U.S. Mid-Continent region - Refining margin per barrel of throughput: $14.89 compared to the $18.49 average estimate based on four analysts.
Total operating revenues- Refining: $31.99 billion compared to the $32.87 billion average estimate based on three analysts. The reported number represents a change of -35.4% year over year.
Total operating revenues- Renewable diesel: $2.25 billion versus the three-analyst average estimate of $1.50 billion. The reported number represents a year-over-year change of +54.8%.
Total operating revenues- Ethanol: $1.47 billion versus the three-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of -1.2%.
Total operating revenues- Corporate and Eliminations: -$1.20 billion versus the two-analyst average estimate of -$763.32 million.
Shares of Valero Energy have returned +9.1% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Valero Energy (VLO) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Valero Energy (VLO - Free Report) reported revenue of $34.51 billion, down 33.2% over the same period last year. EPS came in at $5.40, compared to $11.36 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $34.82 billion, representing a surprise of -0.88%. The company delivered an EPS surprise of +6.30%, with the consensus EPS estimate being $5.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Valero Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- U.S. Gulf Coast region - Throughput volumes per day: 1800 KBBL/D compared to the 1754.14 KBBL/D average estimate based on four analysts.
- U.S. Mid-Continent region - Throughput volumes per day: 434 KBBL/D versus the four-analyst average estimate of 419.63 KBBL/D.
- North Atlantic region - Throughput volumes per day: 463 KBBL/D compared to the 462.63 KBBL/D average estimate based on four analysts.
- U.S. West Coast region - Throughput volumes per day: 272 KBBL/D compared to the 262.45 KBBL/D average estimate based on four analysts.
- Refining - Total Throughput volumes per day: 2969 Kbbl versus the four-analyst average estimate of 2896.22 Kbbl.
- U.S. Gulf Coast region - Refining margin per barrel of throughput: $15.64 versus $18.83 estimated by four analysts on average.
- Refining - Refining margin per barrel of throughput: $15.62 compared to the $16.91 average estimate based on four analysts.
- U.S. Mid-Continent region - Refining margin per barrel of throughput: $14.89 compared to the $18.49 average estimate based on four analysts.
- Total operating revenues- Refining: $31.99 billion compared to the $32.87 billion average estimate based on three analysts. The reported number represents a change of -35.4% year over year.
- Total operating revenues- Renewable diesel: $2.25 billion versus the three-analyst average estimate of $1.50 billion. The reported number represents a year-over-year change of +54.8%.
- Total operating revenues- Ethanol: $1.47 billion versus the three-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of -1.2%.
- Total operating revenues- Corporate and Eliminations: -$1.20 billion versus the two-analyst average estimate of -$763.32 million.
View all Key Company Metrics for Valero Energy here>>>Shares of Valero Energy have returned +9.1% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.