Valero Energy Delivers Solid Q3: Ethanol, Renewable Diesel Volumes Rise
Portfolio Pulse from Lekha Gupta
Valero Energy Corporation reported strong Q3 FY24 results with revenues of $32.876 billion, surpassing expectations. Despite a decline in operating income across segments, the company exceeded EPS estimates and returned $907 million to shareholders. Valero's shares are down 2.05%.
October 24, 2024 | 2:02 pm
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NEUTRAL IMPACT
VanEck Oil Refiners ETF (CRAK) provides exposure to Valero Energy, which reported mixed Q3 results with strong revenue but lower segment incomes. Valero's stock fell 2.05%.
CRAK's exposure to Valero means its performance may be influenced by Valero's mixed results, but the impact is moderate given the ETF's diversified holdings.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Invesco Energy Exploration & Production ETF (PXE) includes Valero Energy, which reported strong Q3 revenue but lower segment incomes. Valero's stock fell 2.05%.
PXE's exposure to Valero suggests a moderate impact from Valero's mixed Q3 results, as the ETF's performance is influenced by its broader energy sector holdings.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Valero Energy's Q3 FY24 results exceeded revenue and EPS expectations, but operating income declined across segments. The company returned $907 million to shareholders, yet shares fell 2.05%.
Valero's strong revenue and EPS performance was overshadowed by declines in operating income across segments, leading to a neutral short-term impact on stock price despite shareholder returns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100