Valero Continues to Operate Well Supporting Cash Returns to Shareholders
Valero reported an increase in second-quarter adjusted earnings to $548 million form $503 million the year before with a modest increase in refining and VLP offsetting ethanol weakness. Refining operating income grew to $959 million from $902 million last year as utilization of 96% resulted in processing of greater volumes compared with last year despite unplanned downtime at the Benicia refinery. Throughput margin per barrel increased slightly to $8.66/bbl from $8.59/bbl last year nearly offset...Valero Energy is an international manufacturer and marketer of transportation fuels and petrochemical products. The company's segments include: Refining, which includes its refining operations, the associated marketing activities, and logistics assets that support its refining operations; Ethanol, which includes its ethanol operations, the associated marketing activities, and logistics assets that support its ethanol operations; and Renewable Diesel, which includes the operations of its joint ventture, Diamond Green Diesel Holdings LLC, which owns and operates a renewable diesel plant in Norco, LA.
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