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BRIEF-Valero Energy Reports Q2 2022 Results

BRIEF-Valero Energy Reports Q2 2022 Results

Reuters · 07/28/2022 06:42
BRIEF-Valero Energy Reports Q2 2022 Results

- Valero Energy Corp VLO:

  • VALERO ENERGY REPORTS SECOND QUARTER 2022 RESULTS

  • Q2 ADJUSTED EARNINGS PER SHARE $11.36

  • Q2 EARNINGS PER SHARE $11.57

  • REFINING SEGMENT REPORTED OPERATING INCOME OF $6.2 BILLION FOR Q2 OF 2022, COMPARED TO $349 MILLION FOR Q2 OF 2021

  • REFINERY OPTIMIZATION PROJECTS THAT ARE EXPECTED TO REDUCE COSTS AND IMPROVE MARGIN CAPTURE ARE PROGRESSING ON SCHEDULE

  • PORT ARTHUR COKER PROJECT, EXPECTED TO BE COMPLETED IN FIRST HALF OF 2023

  • QTRLY REVENUES $51.64 BILLION VERSUS $27.75 BILLION

  • Q2 EARNINGS PER SHARE VIEW $9.58, REVENUE VIEW $47.92 BILLION -- REFINITIV IBES DATA

  • DGD PROJECT LOCATED NEXT TO VALERO'S PORT ARTHUR REFINERY (DGD 3) SHOULD COMMENCE OPERATIONS IN Q4 OF 2022

  • BLACKROCK AND NAVIGATOR'S CARBON SEQUESTRATION PROJECT IS STILL EXPECTED TO BEGIN STARTUP ACTIVITIES IN LATE 2024

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