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Valero Energy Corptx (VLO) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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VLO Quarterly Reports

Valero Energy Corptx

CIK: 1035002 Ticker: VLO
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Exhibit 99.01


Valero Energy Reports First Quarter 2020 Results


Reported net loss attributable to Valero stockholders of $1.9 billion, or $4.54 per share.
Reported adjusted net income attributable to Valero stockholders of $140 million, or $0.34 per share.
Returned $548 million in cash to stockholders through dividends and stock buybacks during the quarter and declared a quarterly common stock dividend of $0.98 per share on April 24.
Deferred approximately $100 million in tax payments due in the first quarter of 2020 and deferring approximately $400 million in capital projects for 2020.
Entered into a new 364-day $875 million revolving credit facility on April 13, which remains undrawn, and issued $850 million of 2.70% and $650 million of 2.85% senior notes on April 16.

SAN ANTONIO, April 29, 2020 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported a net loss attributable to Valero stockholders of $1.9 billion, or $4.54 per share, for the first quarter of 2020 compared to net income of $141 million, or $0.34 per share, for the first quarter of 2019. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net income attributable to Valero stockholders was $140 million, or $0.34 per share, for the first quarter of 2020 and $181 million, or $0.43 per share, for the first quarter of 2019. First quarter 2020 adjusted results exclude an after-tax lower of cost or market, or LCM, inventory valuation adjustment of approximately $2.0 billion.

“It’s been a very challenging start to the year with significant impacts to families, communities and businesses world-wide brought on by the COVID-19 pandemic,” said Joe Gorder, Valero Chairman and Chief Executive Officer. “Valero entered this economic downturn in a position of strength, and our team has been thorough, decisive and swift in our operational, financial and community support response.”



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The following information was filed by Valero Energy Corptx (VLO) on Wednesday, April 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Valero Energy Corptx's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Valero Energy Corptx's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies (Tables)
Debt
Debt (Tables)
Debt, Credit Facilities (Details)
Debt, Interest Incurred (Details)
Debt, Narrative (Details)
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share (Details)
Earnings (Loss) Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Equity
Equity (Tables)
Equity, Changes In Accumulated Other Comprehensive Loss (Details)
Equity, Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements, Nonrecurring (Details)
Fair Value Measurements, Other Financial Instruments (Details)
Fair Value Measurements, Recurring (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases, Additional Information (Details)
Leases, Remaining Minimum Lease Payments (Details)
Leases, Significant Lease Commencement (Details)
Leases, Total Lease Cost By Class Of Underlying Asset (Details)
Merger With Vlp
Merger With Vlp (Details)
Price Risk Management Activities
Price Risk Management Activities (Details)
Price Risk Management Activities (Tables)
Price Risk Management Activities, Effect Of Derivative Instruments On Income And Other Comprehensive Income (Loss) (Details)
Price Risk Management Activities, Hedging Instruments By Consolidated Balance Sheet Location (Details)
Revenues And Segment Information
Revenues And Segment Information (Tables)
Revenues And Segment Information, Assets (Details)
Revenues And Segment Information, Components Of Operating Income (Loss) (Details)
Revenues And Segment Information, Contract Balances (Details)
Revenues And Segment Information, Disaggregation Of Revenue By Product (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Uncertainties And Certain Significant Accounting Estimates
Uncertainties And Certain Significant Accounting Estimates (Details)
Variable Interest Entities
Variable Interest Entities (Details)
Variable Interest Entities (Tables)

Material Contracts, Statements, Certifications & more

Valero Energy Corptx provided additional information to their SEC Filing as exhibits

Ticker: VLO
CIK: 1035002
Form Type: 10-Q Quarterly Report
Accession Number: 0001035002-20-000016
Submitted to the SEC: Wed Apr 29 2020 4:58:03 PM EST
Accepted by the SEC: Wed Apr 29 2020
Period: Tuesday, March 31, 2020
Industry: Petroleum Refining

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