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Valero Energy Corptx (VLO) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Valero Energy Corptx

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CIK: 1035002 Ticker: VLO
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Exhibit 99.01

Valero Energy Reports First Quarter 2021 Results

•Reported a net loss attributable to Valero stockholders of $704 million, or $1.73 per share, including estimated excess energy cost of $579 million, or $1.15 per share, related to impacts from Winter Storm Uri
•Returned $400 million in cash to stockholders through dividends and declared a regular quarterly cash dividend of $0.98 per share
•Announced the development of a large-scale carbon capture and storage project with BlackRock and Navigator
•Announced the sale of a partial interest in the Pasadena marine terminal joint venture (MVP Terminalling) for $270 million

SAN ANTONIO, April 22, 2021 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported a net loss attributable to Valero stockholders of $704 million, or $1.73 per share, for the first quarter of 2021, compared to a net loss of $1.9 billion, or $4.54 per share, for the first quarter of 2020. The operating loss in the first quarter of 2021 includes estimated excess energy costs of $579 million, or $1.15 per share, related to impacts from Winter Storm Uri. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net income attributable to Valero stockholders for the first quarter of 2020 was $140 million, or $0.34 per share. First quarter 2020 adjusted results exclude an after-tax lower of cost or market, or LCM, inventory valuation adjustment of approximately $2.0 billion.

“Winter Storm Uri impacted operations and operating costs of many facilities in the U.S. Gulf Coast and U.S. Mid-Continent regions, including our facilities,” said Joe Gorder, Valero Chairman and Chief Executive Officer. “I am very proud of our team for safely managing the utilities curtailments and the freeze by idling or shutting down the affected facilities and resuming operations without incident.”


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The following information was filed by Valero Energy Corptx (VLO) on Thursday, April 22, 2021 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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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, Activity Under Credit Facilities (Details)
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)
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Inventories (Tables)
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
Variable Interest Entities
Variable Interest Entities (Details)
Variable Interest Entities (Tables)
Ticker: VLO
CIK: 1035002
Form Type: 10-Q Quarterly Report
Accession Number: 0001035002-21-000068
Submitted to the SEC: Fri Apr 30 2021 11:21:31 AM EST
Accepted by the SEC: Fri Apr 30 2021
Period: Wednesday, March 31, 2021
Industry: Petroleum Refining

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