Valero Energy Corptx (VLO) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Valero Energy Corptx
Ticker: VLO CIK: 1035002

Exhibit 99.01

Valero Energy Reports Second Quarter 2020 Results


•	Reported net income attributable to Valero stockholders of $1.3 billion, or $3.07 per share.


•	Reported adjusted net loss attributable to Valero stockholders of $504 million, or $1.25 per share.


•	Returned $400 million in cash to stockholders through dividends and declared a quarterly common stock dividend of $0.98 per share on July 16.

SAN ANTONIO, July 30, 2020 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $1.3 billion, or $3.07 per share, for the second quarter of 2020 compared to net income of $612 million, or $1.47 per share, for the second quarter of 2019. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net loss attributable to Valero stockholders was $504 million, or $1.25 per share, for the second quarter of 2020, compared to second quarter 2019 adjusted net income attributable to Valero stockholders of $665 million, or $1.60 per share. Second quarter 2020 adjusted results exclude the benefit from an after-tax lower of cost or market, or LCM, inventory valuation adjustment of $1.8 billion.

Refining

The refining segment reported $1.8 billion of operating income for the second quarter of 2020 compared to $1.0 billion for the second quarter of 2019. Excluding the LCM inventory valuation adjustment, the second quarter 2020 adjusted operating loss was $383 million. Refinery throughput volumes averaged 2.3 million barrels per day in the second quarter of 2020, which was 647 thousand barrels per day lower than the second quarter of 2019.

“While the impact of the pandemic and the ensuing global economic downturn so far this year has been significant, we saw a rapid recovery in demand for refined products as we moved through the quarter,” said Joe Gorder, Valero Chairman and Chief Executive Officer.

The following information was filed by Valero Energy Corptx (VLO) on Thursday, July 30, 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.

View differences made from one quarter to another to evaluate Valero Energy Corptx's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Valero Energy Corptx.

Continue

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1035002/000103500220000041/vloform10-qx6302020.htm