Valero Energy Corporation: Beat — EPS $23.90, Revenue $46.1B
Earnings BeatQ3 2026 · Pre-market
Did Valero Energy Corporation (VLO) beat earnings today?
Yes, Valero Energy Corporation (VLO) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+14.74% surprise
$23.90Actual
Expected: $20.83
vs. year ago +553.0%
Total Revenue+8.71% surprise
$46.1BActual
Expected: $42.41B
vs. year ago +43.3%
Released Oct 22 · 6:30 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $46.10B | $32.17B | +43.3% |
| Revenue detail — reported lines | |||
| └─Refining | $44.37B | $30.41B | +45.9% |
| └─Renewable Diesel | $664.00M | $719.00M | -7.6% |
| └─Ethanol | $1.06B | $1.03B | +2.9% |
| Net Income | $6.83B | $1.09B | +523.6% |
| GAAP Basic EPS | $23.90 | $3.54 | +575.1% |
| GAAP Diluted EPS | $23.89 | $3.53 | +576.8% |
| Adjusted Diluted EPS | $23.90 | $3.66 | +553.0% |
Business Highlights
- ➤Completed the St. Charles FCC Unit optimization project on schedule and within budget.
- ➤The St. Charles project is operational and increases capacity for alkylate and gasoline.
- ➤Refineries operated at near-record utilization rates during the quarter.
- ➤Ethanol production averaged 4.8 million gallons per day, a new quarterly record.
- ➤Repaid $100M of 7.65% Debentures maturing in July.
- ➤Repaid $426M of 3.400% Senior Notes maturing in September.
- ➤Completed the phased idling of all Benicia Refinery processing units in April 2026.
- ➤Continued decommissioning and redevelopment activities for the Benicia Refinery within Corporate and Other.
- ➤Operates 14 petroleum refineries across the U.S., Canada and U.K.
- ➤Diamond Green Diesel produces renewable diesel and sustainable aviation fuel on the U.S. Gulf Coast.
Management Commentary
Lane Riggs, Chairman, Chief Executive Officer and President
“Our refineries operated at near-record utilization rates, providing a reliable supply of critical transportation fuels during the quarter. We also completed the St. Charles FCC Unit optimization project, which increases the production capacity of higher value products, including alkylate and gasoline, further strengthening our ability to supply transportation fuels to the market.”
Lane Riggs, Chairman, Chief Executive Officer and President
“Our third-quarter performance underscores the quality of our assets and our consistent operational, commercial, and financial performance. This is a result of the long-term strategy that we’ve been committed to for well over a decade.”