Declared Dividend • Jul 20
First quarter dividend of US$1.20 announced Shareholders will receive a dividend of US$1.20. Ex-date: 31st July 2026 Payment date: 31st August 2026 Dividend yield will be 1.7%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 15% over the next 3 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. Annonce • Jul 17
Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on August 31, 2026 The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend of $1.20 per share on its common stock. The dividend will be payable on August 31, 2026, to stockholders of record as of the close of business on July 31, 2026. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Director Bob Reymond was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jun 02
Valero Energy Corporation to Report Q2, 2026 Results on Jul 30, 2026 Valero Energy Corporation announced that they will report Q2, 2026 results on Jul 30, 2026 Declared Dividend • May 11
First quarter dividend of US$1.20 announced Shareholders will receive a dividend of US$1.20. Ex-date: 21st May 2026 Payment date: 23rd June 2026 Dividend yield will be 2.1%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • May 10
Valero Energy Corporation Declares A Regular Quarterly Cash Dividend on Common Stock, Payable on June 23, 2026 Valero Energy Corporation Board of Directors has declared a regular quarterly cash dividend of $1.20 per share on its common stock. The dividend will be payable on June 23, 2026, to stockholders of record as of the close of business on May 21, 2026. Reported Earnings • May 02
First quarter 2026 earnings released: EPS: US$4.24 (vs US$1.90 loss in 1Q 2025) First quarter 2026 results: EPS: US$4.24 (up from US$1.90 loss in 1Q 2025). Revenue: US$32.4b (up 13% from 1Q 2025). Net income: US$1.26b (up US$1.86b from 1Q 2025). Profit margin: 3.9% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 7.8%. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (€1.7m sold). Annonce • Mar 27
Arnold & Itkin LLP Files Lawsuit Against Valero Energy Corporation over Port Arthur Refinery Explosion Arnold & Itkin LLP has filed a lawsuit against Valero Energy Corporation on behalf of Jonathan Jaimes, a worker who suffered significant injuries following a catastrophic incident at the company's refinery in Port Arthur, Texas. On March 23, 2026, Mr. Jaimes was at Valero's Port Arthur plant when a sudden explosion and massive fire erupted. The force of the blast and intense heat threw Mr. Jaimes to the ground, causing serious physical injuries, including damage to his neck, back, spine, and other parts of his body. The lawsuit alleges that Valero's failure to provide a safe working environment and gross negligence caused the explosion and put the safety of workers, including Mr. Jaimes, in harm's way. It also seeks punitive damages, alleging that Valero acted with indifference to an extreme degree of risk, despite being aware of the dangers that ultimately led to this explosion. The case was filed in Jefferson County, Texas. Annonce • Mar 20
Valero Energy Corporation, Annual General Meeting, May 07, 2026 Valero Energy Corporation, Annual General Meeting, May 07, 2026. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €198, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Oil and Gas industry in Europe. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €341 per share. Annonce • Mar 03
Valero Energy Corporation to Report Q1, 2026 Results on Apr 30, 2026 Valero Energy Corporation announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: US$7.60 (vs US$8.58 in FY 2024) Full year 2025 results: EPS: US$7.60 (down from US$8.58 in FY 2024). Revenue: US$122.7b (down 1.0% from FY 2024). Net income: US$2.35b (down 15% from FY 2024). Profit margin: 1.9% (down from 2.2% in FY 2024). Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 12%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Declared Dividend • Jan 26
Third quarter dividend of US$1.20 announced Shareholders will receive a dividend of US$1.20. Ex-date: 5th February 2026 Payment date: 9th March 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 3.8% to bring the payout ratio under control. EPS is expected to grow by 101% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Annonce • Jan 23
Valero Energy Corporation Increases Regular Cash Dividend on Common Stock, Payable on March 9, 2026 The Board of Directors of Valero Energy Corporation has approved an increase in the company’s regular quarterly cash dividend on common stock, raising it from $1.13 per share to $1.20 per share. The dividend is payable on March 9, 2026, to shareholders of record at the close of business on February 5, 2026. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $4.80 per share. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €165, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Oil and Gas industry in Europe. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €277 per share. Annonce • Dec 05
Valero Energy Corporation to Report Q4, 2025 Results on Jan 29, 2026 Valero Energy Corporation announced that they will report Q4, 2025 results Pre-Market on Jan 29, 2026 Recent Insider Transactions • Nov 25
Executive VP & CFO recently sold €1.5m worth of stock On the 21st of November, Jason Fraser sold around 10k shares on-market at roughly €151 per share. This transaction amounted to 6.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jason's only on-market trade for the last 12 months. Upcoming Dividend • Nov 14
Upcoming dividend of US$1.13 per share Eligible shareholders must have bought the stock before 20 November 2025. Payment date: 18 December 2025. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.1%). Declared Dividend • Oct 31
Third quarter dividend of US$1.13 announced Shareholders will receive a dividend of US$1.13. Ex-date: 20th November 2025 Payment date: 18th December 2025 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 3.8% to bring the payout ratio under control. EPS is expected to grow by 116% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: US$3.54 (vs US$1.14 in 3Q 2024) Third quarter 2025 results: EPS: US$3.54 (up from US$1.14 in 3Q 2024). Revenue: US$32.2b (up 2.7% from 3Q 2024). Net income: US$1.10b (up 202% from 3Q 2024). Profit margin: 3.4% (up from 1.2% in 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 9.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • Sep 19
Valero Energy Corporation Appoints Robert L. Reymond to Board of Directors and Nominating and Corporate Governance Committee, Effective September 19, 2025 Valero Energy Corporation announced that Robert L. Reymond has been elected as an independent director to Valero’s board of directors (the “Board”) and has joined the Board’s Nominating and Corporate Governance Committee, effective immediately on September 19, 2025. Mr. Reymond most recently served as Chief Operating Officer of the Energy Group and as a member of the board of directors of Burns & McDonnell Inc. As Chief Operating Officer of Burns & McDonnell’s Energy Group, Mr. Reymond oversaw the firm’s oil, gas and chemicals and power businesses. He has extensive experience in managing complex engineering and construction projects across multiple segments of the energy industry, including refining, low-carbon fuels, midstream and logistics, chemicals, and power. Mr. Reymond also previously served in various other executive and senior management roles at Burns & McDonnell, where he led some of the firm’s largest and most complex energy projects and founded its nuclear business. Mr. Reymond received his bachelor’s degree in mechanical engineering from the University of Missouri. He previously served as an officer in the United States Navy’s nuclear power program. Annonce • Sep 09
Valero Energy Corporation to Report Q3, 2025 Results on Oct 23, 2025 Valero Energy Corporation announced that they will report Q3, 2025 results at 12:30 PM, US Eastern Standard Time on Oct 23, 2025 Annonce • Jul 19
Valero Energy Corporation Declares Regular Quarterly Cash Dividend on Common Stock, Payable on September 3, 2024 The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend on common stock of $1.07 per share. The dividend is payable on September 3, 2024 to holders of record at the close of business on August 1, 2024. Annonce • Jun 13
Valero Energy Corporation to Report Q2, 2024 Results on Jul 25, 2024 Valero Energy Corporation announced that they will report Q2, 2024 results on Jul 25, 2024 Annonce • May 16
Valero Energy Corporation Declares Regular quarterly Cash Dividend, payable on June 28, 2024 The Board of Directors of Valero Energy Corporation declared a regular quarterly cash dividend on common stock of $1.07 per share. The dividend is payable on June 28, 2024 to holders of record at the close of business on May 30, 2024. Annonce • Mar 27
Valero Energy Corporation, Annual General Meeting, May 15, 2024 Valero Energy Corporation, Annual General Meeting, May 15, 2024, at 11:00 Central Standard Time. Agenda: To consider election of Directors; to consider advisory vote to approve 2023 executive compensation; to ratify KPMG LLP as independent auditor; and to consider other matters, if any, properly brought before the meeting. Annonce • Mar 20
Valero Energy Corporation to Report Q1, 2024 Results on Apr 25, 2024 Valero Energy Corporation announced that they will report Q1, 2024 results on Apr 25, 2024 Annonce • Jan 19
Valero Energy Corporation Increases Regular Cash Dividend, Payable on March 4, 2024 The Board of Directors of Valero Energy Corporation has approved an increase in the company’s regular quarterly cash dividend on common stock from $1.02 per share to $1.07 per share. The dividend is payable on March 4, 2024 to holders of record at the close of business on February 1, 2024. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $4.28 per share. Annonce • Dec 08
Valero Energy Corporation to Report Q4, 2023 Results on Jan 25, 2024 Valero Energy Corporation announced that they will report Q4, 2023 results on Jan 25, 2024 Annonce • Nov 08
Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on December 20, 2023 The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend on common stock of $1.02 per share. The dividend is payable on December 20, 2023 to holders of record at the close of business on November 17, 2023. Annonce • Sep 18
Valero Energy Corporation (NYSE:VLO) announces an Equity Buyback for $2,500 million worth of its shares. Valero Energy Corporation (NYSE:VLO) announces a share repurchase program. Under this program, the company will repurchase up to $2,500 million worth of its outstanding common stock. The program has no expiration date. Annonce • Sep 16
Cheryl L. Thomas Intends to Retire as Senior Vice President and Chief Technology Officer of Valero Energy Corporation on or About January 2, 2024 On September 11, 2023, Cheryl L. Thomas, age 62, and Senior Vice President and Chief Technology Officer of Valero Energy Corporation (Valero), informed Valero that she intends to retire on or about January 2, 2024. In the interim, Ms. Thomas plans to help transition her responsibilities internally as part of Valero's succession plan. Annonce • Sep 13
Valero Energy Corporation to Report Q3, 2023 Results on Oct 26, 2023 Valero Energy Corporation announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$5.41 (vs US$11.57 in 2Q 2022) Second quarter 2023 results: EPS: US$5.41 (down from US$11.57 in 2Q 2022). Revenue: US$33.1b (down 34% from 2Q 2022). Net income: US$1.94b (down 59% from 2Q 2022). Profit margin: 5.9% (down from 9.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 9.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.4%. Upcoming Dividend • Jul 26
Upcoming dividend of US$1.02 per share at 3.3% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 05 September 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.3%). Annonce • Jun 13
Valero Energy Corporation to Report Q2, 2023 Results on Jul 27, 2023 Valero Energy Corporation announced that they will report Q2, 2023 results on Jul 27, 2023 Buying Opportunity • Jun 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be €129, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 117%. For the next 3 years, revenue is forecast to decline by 9.8% per annum. Earnings is also forecast to decline by 32% per annum over the same time period. Buying Opportunity • May 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be €120, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 117%. For the next 3 years, revenue is forecast to decline by 9.7% per annum. Earnings is also forecast to decline by 30% per annum over the same time period. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$8.31 (vs US$2.21 in 1Q 2022) First quarter 2023 results: EPS: US$8.31 (up from US$2.21 in 1Q 2022). Revenue: US$36.4b (down 5.5% from 1Q 2022). Net income: US$3.07b (up 240% from 1Q 2022). Profit margin: 8.4% (up from 2.3% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 3.6%. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: US$29.08 (vs US$2.27 in FY 2021) Full year 2022 results: EPS: US$29.08 (up from US$2.27 in FY 2021). Revenue: US$171.2b (up 58% from FY 2021). Net income: US$11.5b (up US$10.6b from FY 2021). Profit margin: 6.7% (up from 0.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 7.2%. Annonce • Feb 01
Valero Energy Corporation Increases Regular Cash Dividend, Payable on March 16, 2023 The Board of Directors of Valero Energy Corporation has approved an increase in the company’s regular quarterly cash dividend on common stock from $0.98 per share to $1.02 per share. The dividend is payable on March 16, 2023 to holders of record at the close of business on February 14, 2023. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $4.08 per share. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$29.19 (vs US$2.27 in FY 2021) Full year 2022 results: EPS: US$29.19 (up from US$2.27 in FY 2021). Revenue: US$176.4b (up 63% from FY 2021). Net income: US$11.5b (up US$10.6b from FY 2021). Profit margin: 6.5% (up from 0.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 15% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 8.1%. Annonce • Dec 16
Valero Energy Corporation to Report Q4, 2022 Results on Jan 26, 2023 Valero Energy Corporation announced that they will report Q4, 2022 results on Jan 26, 2023 Upcoming Dividend • Nov 09
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 16 November 2022. Payment date: 08 December 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (0.9%). Annonce • Nov 01
Valero Energy Corporation Elects Marie A. Ffolkes an Independent Director and to the Board’s Nominating and Corporate Governance Committee Valero Energy Corporation announced that Marie A. Ffolkes has been elected as an independent director to Valero’s board of directors (the “Board”) and has joined the Board’s Nominating and Corporate Governance Committee, effective immediately. Ms. Ffolkes is currently the founder and Chief Executive Officer of Axxelist LLC. She recently served as Chief Executive Officer of TriMark USA, LLC. Ms. Ffolkes has extensive experience in operations, international markets and multiple sectors, including industrial gas production and the automotive business. She previously served as President, Industrial Gases, Americas of Air Products & Chemicals Inc., and in various executive and senior management roles at Tenneco Inc. and Johnson Controls International plc. Ms. Ffolkes currently serves on the board of directors of Masco Corporation. She also serves on the Global Advisory Board of the Jerome A. Chazen Institute for Global Business at Columbia Business School. Annonce • Oct 27
Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on December 8, 2022 The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend on common stock of $0.98 per share. The dividend is payable on December 8, 2022 to holders of record at the close of business on November 17, 2022. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: US$7.22 (vs US$1.14 in 3Q 2021) Third quarter 2022 results: EPS: US$7.22 (up from US$1.14 in 3Q 2021). Revenue: US$44.5b (up 59% from 3Q 2021). Net income: US$2.82b (up US$2.36b from 3Q 2021). Profit margin: 6.3% (up from 1.7% in 3Q 2021). Revenue is expected to fall by 13% p.a. on average during the next 3 years compared to a 4.7% decline forecast for the Oil and Gas industry in Germany. Buying Opportunity • Oct 10
Now 22% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be €149, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 13% per annum. Earnings is also forecast to decline by 40% per annum over the same time period. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$11.62 (vs US$0.39 in 2Q 2021) Second quarter 2022 results: EPS: US$11.62 (up from US$0.39 in 2Q 2021). Revenue: US$51.6b (up 96% from 2Q 2021). Net income: US$4.69b (up US$4.53b from 2Q 2021). Profit margin: 9.1% (up from 0.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 5.4% compared to a 141% growth forecast for the industry in Germany. Upcoming Dividend • Jul 27
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 03 August 2022. Payment date: 01 September 2022. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.2%). Annonce • Jul 22
Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on September 1, 2022 The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend on common stock of $0.98 per share. The dividend is payable on September 1, 2022 to holders of record at the close of business on August 4, 2022. Annonce • Jul 08
Valero Energy Corporation (NYSE:VLO) announces an Equity Buyback for $2,500 million worth of its shares. Valero Energy Corporation (NYSE:VLO) announces a share repurchase program. Under the program, the company will repurchase up to $2,500 million worth of its outstanding common stock. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €110, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 76% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €173 per share. Annonce • Jun 16
Valero Energy Corporation to Report Q2, 2022 Results on Jul 28, 2022 Valero Energy Corporation announced that they will report Q2, 2022 results on Jul 28, 2022 Buying Opportunity • Jun 09
Now 20% undervalued Over the last 90 days, the stock is up 63%. The fair value is estimated to be €169, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 46% in the next 2 years. Recent Insider Transactions • May 28
President & COO recently sold €1.9m worth of stock On the 27th of May, R. Riggs sold around 15k shares on-market at roughly €123 per share. This was the largest sale by an insider in the last 3 months. This was R.'s only on-market trade for the last 12 months. Upcoming Dividend • May 04
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 11 May 2022. Payment date: 07 June 2022. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.1%). Higher than average of industry peers (1.0%). Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: US$2.22 (vs US$1.73 loss in 1Q 2021) First quarter 2022 results: EPS: US$2.22 (up from US$1.73 loss in 1Q 2021). Revenue: US$38.5b (up 96% from 1Q 2021). Net income: US$905.0m (up US$1.61b from 1Q 2021). Profit margin: 2.3% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 49% growth forecast for the industry in Germany. Annonce • Mar 23
Valero Energy Corporation to Report Q1, 2022 Results on Apr 26, 2022 Valero Energy Corporation announced that they will report Q1, 2022 results on Apr 26, 2022 Reported Earnings • Jan 30
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$2.29 (up from US$3.50 loss in FY 2020). Revenue: US$114.0b (up 90% from FY 2020). Net income: US$930.0m (up US$2.36b from FY 2020). Profit margin: 0.8% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 6.9%. Over the next year, revenue is forecast to grow 8.3%, compared to a 75% growth forecast for the oil industry in Germany. Upcoming Dividend • Jan 26
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 02 February 2022. Payment date: 03 March 2022. The company is not currently making a profit and its cash payout ratio is 87%. Trailing yield: 4.8%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (4.3%). Upcoming Dividend • Nov 10
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 17 November 2021. Payment date: 09 December 2021. Trailing yield: 5.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.8%). Reported Earnings • Oct 22
Third quarter 2021 earnings released: EPS US$1.14 (vs US$1.14 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$29.5b (up 104% from 3Q 2020). Net income: US$463.0m (up US$928.0m from 3Q 2020). Profit margin: 1.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Reported Earnings • Aug 01
Second quarter 2021 earnings released: EPS US$0.39 (vs US$3.08 in 2Q 2020) The company reported a decent second quarter result with improved revenues, although earnings and profit margins were weaker. Second quarter 2021 results: Revenue: US$26.3b (up 174% from 2Q 2020). Net income: US$160.0m (down 87% from 2Q 2020). Profit margin: 0.6% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jul 28
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 02 September 2021. Trailing yield: 6.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (4.1%). Upcoming Dividend • May 07
Upcoming dividend of US$0.98 per share Eligible shareholders must have bought the stock before 14 May 2021. Payment date: 08 June 2021. Trailing yield: 4.9%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (4.2%). Reported Earnings • Apr 24
First quarter 2021 earnings released: US$1.73 loss per share (vs US$4.53 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses and improved control over expenses, although revenues were flat. First quarter 2021 results: Revenue: US$20.8b (flat on 1Q 2020). Net loss: US$704.0m (loss narrowed 62% from 1Q 2020). Annonce • Apr 09
Valero Energy Corporation Provides Earnings Guidance for the First Quarter of 2021 Valero Energy Corporation provides earnings guidance for the first quarter of 2021. Valero expects to report a net loss attributable to Valero stockholders in the range of $2.05 to $1.81 per share for the first quarter of 2021. The company expects electricity and natural gas costs incurred primarily by its refining and ethanol business segments to be higher than expected for the first quarter of 2021 due to the impacts of Winter Storm Uri. The preliminary estimated impact of excess energy costs included in the range of net loss attributable to Valero stockholders noted above is $1.18 to $1.14 per share. Annonce • Mar 19
Valero Energy Corporation, Annual General Meeting, Apr 29, 2021 Valero Energy Corporation, Annual General Meeting, Apr 29, 2021, at 11:00 Central Standard Time. Agenda: To Elect directors; to Ratify KPMG LLP as independent auditor; to consider Advisory vote to approve 2020 executive compensation; and to consider Other matters, if any, properly brought before the meeting. Reported Earnings • Feb 25
Full year 2020 earnings released: US$3.50 loss per share (vs US$5.85 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$60.1b (down 42% from FY 2019). Net loss: US$1.43b (down 159% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 27%, compared to a 29% growth forecast for the Oil and Gas industry in Germany. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue beats expectations Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 20%, compared to a 17% growth forecast for the Oil and Gas industry in Germany. Annonce • Jan 29
Darling Ingredients Inc. and Valero Energy Corporation Announces Update on Joint Venture Darling Ingredients Inc. and Valero Energy Corporation jointly announced that their 50/50 joint venture, Diamond Green Diesel has received approval from both companies' Boards of Directors to proceed with the construction of the renewable diesel production facility to be located at Valero's Port Arthur, Texas refinery. DGD Port Arthur's capacity is estimated to be 470 million gallons per year of renewable diesel. This new plant is anticipated to commence operations in the second half of 2023. Once operational, and when combined with the increased capacity at the Norco, LA facility (currently 290 million gallons annually with an anticipated increase of 400 million gallons due to be operational later this year), DGD's total annual production capacity is expected to be approximately 1.2 billion gallons of renewable diesel and 50 million gallons of renewable naphtha. The current estimated construction cost is $1.45 billion to be split equally between the joint venture partners and funded from internal cash flows provided by DGD. 
