Valero Energy First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Valero Energy (NYSE:VLO) First Quarter 2024 Results

Key Financial Results

• Revenue: US$31.8b (down 9.3% from 1Q 2023).
• Net income: US$1.25b (down 59% from 1Q 2023).
• Profit margin: 3.9% (down from 8.7% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$3.76 (down from US$8.29 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Valero Energy EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) exceeded analyst estimates by 14%.

Looking ahead, revenue is expected to decline by 5.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.1%.

Performance of the American Oil and Gas industry.

The company's shares are up 2.9% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Valero Energy (at least 1 which is concerning), and understanding them should be part of your investment process.

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