Markets
VLO

Valero Energy (VLO) Beats on Q2 Earnings & Revenues

An Earnings Beat : Valero Energy Corporation ( VLO ) reported second quarter income per share of $2.15, higher than the Zacks Consensus Estimate of $2.00. Higher throughput margin owing to 93% throughput capacity utilization supported Valero Energy's strong second-quarter results.

Estimate Revision Trend & Surprise History : Investors should note that the Zacks Consensus Estimate has seen one upward revision and no downward revisions in the last seven days.

Valero Energy Corporation Price and EPS Surprise

Valero Energy Corporation Price and EPS Surprise | Valero Energy Corporation Quote

Nonetheless, Valero has an impressive earnings surprise history. Before posting the earnings beat in Q2, the company delivered positive surprises in all prior four quarters. Overall, the company has a positive earnings surprise of 8.8% in the trailing four quarters.

Revenues : Valero posted revenues of $31,015 million, beating the Zacks Consensus Estimate of $28,446 million. Also, it compared favorably with the year-ago number of $22,254 million.

Key Stats : During the quarter, refining throughput volumes were approximately 2.89 million barrels per day, down from 3.02 million barrels per day in the year-earlier quarter but surpassed the Zacks Consensus Estimate of 2.88 million barrels per day.

By feedstock composition, sweet crude, medium/light sour crude and heavy sour crude accounted for 45%, 15% and 16.6%, respectively. The remaining volumes came from residuals, other feedstock, blendstocks and others.

Refining margin per barrel of throughput increased to $10.80 per barrel from the year-ago level of $8.66 per barrel.

Zacks Rank : Currently, Valero carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today's Zacks #1 Rank stocks here )

Check back later for our full write up on this Valero earnings report later!

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Valero Energy Corporation (VLO): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

VLO

Other Topics

Earnings Investing Stocks

Latest Markets Videos