Valero Energy Corporation has posted impressive first-quarter results for 2022, reversing a prior-year loss of $1.73 per share to achieve an adjusted profit of $2.31 per share amid strong refining margins. The company also saw its stock increase by 5.31% following the earnings announcement and generated nearly $38.54 billion in revenue, a significant rise from the previous year. With analysts projecting a 247% growth rate for the year and upward revisions in earnings estimates, Valero's solid financial health positions it as a key player in the energy sector.
“Valero Energy Corporation · owns · roughly 15 petroleum refineries · in the U.S., Canada, and the U.K.”
“Valero Energy · swung · from an adjusted quarterly loss · -$3.12 per share to +$2.81 a share”
“Valero Energy · stock rose · 1.6% · true”
“Valero Energy (NYSE:VLO) · stock rose · reported a first-quarter profit compared with a year-ago loss · 1.6%”
“Valero Energy · stock rose · percentage · 1.6%”
“Valero Energy Corporation · reported · first-quarter 2022 adjusted earnings · $2.31 per share”
“Valero · had · cash and cash equivalents · $2,638 million”
“Valero · had · total debt and finance lease obligations · $13,161 million”
“Valero · returned · to stockholders as dividend payments · $545 million”
“Institutional Shareholder Services · urged investors to back proposals · Occidental Petroleum Corp. and Valero Energy Corp. · to align the companies’ targets for cutting greenhouse gas emissions with the Paris accord”
“Occidental and Valero’s climate goals · rely heavily on · capturing carbon dioxide and burying it · a technology that’s so far been prohibitively expensive”
“Valero Energy, APA, and Devon Energy · were among · top gainers · in the energy sector”