Thu, Jul 25, 9:05 PM (44 days ago)
Valero Energy Corporation's Q2 2024 financial report indicates a decline in net income attributable to stockholders to $880 million from $1.9 billion in Q2 2023. This was primarily driven by a $1.5 billion decrease in operating income, largely due to lower refining margins and crude oil differentials. Revenues remained stable at $34.5 billion, while cost of sales increased by $1.5 billion due to higher feedstock costs. The Renewable Diesel segment saw a $328 million decline in operating income due to lower product prices and sales volumes. The Ethanol segment's adjusted operating income decreased by $25 million due to lower ethanol and co-product prices, partially offset by lower corn prices. Cash flow from operations was $4.3 billion, used for $1.1 billion in capital investments and $2.8 billion returned to stockholders. The company holds $10.1 billion in liquidity. Future uncertainties include geopolitical tensions, regulatory changes, and market volatility.