Valero Energy (VLO) closed at $139.08 in the latest trading session, marking a +0.38% move from the prior day.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Valero Energy Corporation's share price dropped 25% since early 2024 highs, but it continues to generate substantial cash flow, making it a valuable investment. Quarterly results showed $1.14 per share, a YoY decline due to weaker refining margins, yet the company maintains a 3.14% dividend. Refining margins in 2024 are weaker compared to 2023, but Valero's renewable diesel and ethanol segments help stabilize overall earnings.
Valero Energy (VLO) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Valero Energy Corporation (NYSE:VLO ) Q3 2024 Earnings Conference Call October 24, 2024 10:00 AM ET Company Participants Homer Bhullar - VP, IR & Finance Lane Riggs - Chief Executive Officer and President Gary Simmons - Executive Vice President and Chief Operating Officer Greg Bram - Vice President, Refining Services Jason Fraser - Executive Vice President and Chief Financial Office Eric Fisher - Senior Vice President Product Supply, Trading & Wholesale Richard Walsh - VP & Deputy General Counsel Conference Call Participants Manav Gupta - UBS John Royall - JPMorgan Theresa Chen - Barclays Doug Leggate - Wolfe Research Roger Read - Wells Fargo Paul Cheng - Scotiabank Jean Salisbury - Bank of America Merrill Lynch Joe Laetsch - Morgan Stanley Ryan Todd - Piper Sandler Neil Mehta - Goldman Sachs Matthew Blair - TPH Jason Gabelman - TD Cowen Operator Greetings, and welcome to Valero Energy Corp. Third Quarter 2024 Earnings Conference Call. [Operator Instructions].
VLO???s Q3 earnings and revenues lag estimates owing to weaker refining margins and declining renewable diesel margins.
Valero Energy (VLO) came out with quarterly earnings of $1.14 per share, missing the Zacks Consensus Estimate of $1.29 per share. This compares to earnings of $7.49 per share a year ago.
Valero Energy is the lowest-cost refiner, providing a wide moat advantage and strong financial results even in weak markets. I project VLO will exceed Q3 earnings estimates despite a 17% decline in refining margins, driven by its industry-best operating costs. Four refinery closures in 2025 will improve market fundamentals, potentially boosting crack spreads and benefiting VLO's Gulf Coast operations.
Weaker global demand for refined products and heightened competition abroad are likely to have affected VLO's Q3 earnings.
Valero Energy (VLO) reachead $137.04 at the closing of the latest trading day, reflecting a +0.29% change compared to its last close.
In the most recent trading session, Valero Energy (VLO) closed at $136.65, indicating a +0.83% shift from the previous trading day.
Valero Energy (VLO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.