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Jun 30
Valero Q2 2025 Earnings Report
Valero reported solid Q2 2025 results with strong refining throughput but weaker performance in renewable diesel.
Key Takeaways
Valero delivered $714M in net income and $2.28 EPS for Q2 2025, driven by record refining throughput in the U.S. Gulf Coast region, although renewable diesel posted a loss.
Net income of $714M with EPS of $2.28
Revenue of $29.9B, down from $34.5B last year
Record refining throughput of 2.9M barrels per day in the U.S. Gulf Coast region
Renewable diesel segment posted a $79M operating loss
Valero
Valero
Valero Revenue by Segment
Revenue by Segment
Refining Revenue
CapyFin.comRenewable Diesel Revenue
CapyFin.comEthanol Revenue
CapyFin.com Forward Guidance
Valero expects continued strong refining performance, with ongoing investments in optimization projects, while renewable diesel may face near-term challenges.
Positive Outlook
- Record refining throughput in U.S. Gulf Coast region expected to continue
- FCC Unit optimization project at St. Charles to increase high-value product yields
- Strong balance sheet with $4.5B cash and cash equivalents
- Continued share buybacks and dividends planned
- Stable operations supported by past growth and optimization investments
Challenges Ahead
- Renewable diesel segment facing operating losses
- Benicia refinery impairment impacts future operations
- Higher depreciation due to shortened refinery asset life
- Lower revenue compared to Q2 2024 due to market conditions
- Regulatory and geopolitical uncertainties may affect margins