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Valero Energy Corptx (VLO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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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 2022 Results

Reported net income attributable to Valero stockholders of $905 million, or $2.21 per share
Reported adjusted net income attributable to Valero stockholders of $944 million, or $2.31 per share
Returned $545 million in cash to stockholders, with $401 million paid as dividends and $144 million of stock buybacks
Reduced Valero’s long-term debt by $750 million in the first quarter and by $2.0 billion in six months
Accelerated the expected completion of the Diamond Green Diesel project at Port Arthur (DGD 3) to the fourth quarter of 2022

SAN ANTONIO, April 26, 2022 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $905 million, or $2.21 per share, for the first quarter of 2022, compared to a net loss of $704 million, or $1.73 per share, for the first quarter of 2021. Excluding the adjustments shown in the accompanying earnings release tables, first quarter 2022 adjusted net income attributable to Valero stockholders was $944 million, or $2.31 per share, compared to an adjusted net loss of $666 million, or $1.64 per share, for the first quarter of 2021.

“We are pleased to report solid financial results for the first quarter, led by a continued recovery in our refining segment,” said Joe Gorder, Valero Chairman and Chief Executive Officer. “The fundamentals that drove strong results in the first quarter, particularly in March, continue to provide a positive backdrop for refining margins.”

Refining
The Refining segment reported $1.45 billion of operating income for the first quarter of 2022, compared to a $592 million operating loss for the first quarter of 2021. First quarter 2022 adjusted operating income was $1.47 billion, compared to an adjusted operating loss of $506 million for the first quarter of 2021. Refinery throughput volumes averaged 2.8 million barrels per day in the first quarter of 2022, which was 390 thousand barrels per day higher than the first quarter of 2021.

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The following information was filed by Valero Energy Corptx (VLO) on Tuesday, April 26, 2022 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 2022 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)
Debt
Debt (Tables)
Debt, Activity Under Credit Facilities (Details)
Debt, Credit Facilities (Details)
Debt, Interest Incurred (Details)
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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)
Inventories
Inventories (Details)
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)

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: 0001035002-22-000024
Submitted to the SEC: Wed Apr 27 2022 6:41:30 PM EST
Accepted by the SEC: Thu Apr 28 2022
Period: Thursday, March 31, 2022
Industry: Petroleum Refining

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