SAN ANTONIO

Valero Energy Corporation (NYSE:VLO) reported better-than-expected Q3 results on Thursday, surpassing analyst estimates for both earnings and revenue. Shares rose by 0.98% post-announcement.

The company reported adjusted earnings of $1.14 per share, exceeding the consensus forecast of $0.98. Revenue reached $38.88 billion, notably above the expected $31.17 billion.

Valero's refining segment experienced operating income of $565 million for the quarter, a significant decline from $3.4 billion in the same period last year. Refining throughput volumes averaged 2.9 million barrels per day amid extensive maintenance activities.

Lane Riggs, Valero's CEO and President, commented, "Our focus on operational excellence, capital discipline, and honoring our commitment to shareholder returns has served us well through multiple commodity cycles and will continue to anchor our strategy going forward."

The renewable diesel segment, part of the Diamond Green Diesel joint venture, saw operating income drop to $35 million, down from $123 million last year. Ethanol segment operating income also fell to $153 million from $197 million.

Valero returned $907 million to stockholders through dividends and share repurchases this quarter, maintaining its quarterly dividend of $1.07 per share.

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