Valero Energy Corp

VLO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Valero Earnings: Global Disruptions Drive Strong Results; Near-term Outlook Suggests More to Come

Allen Good

Jul 31, 2026

Adjusted earnings soared to $3.7 billion from $714 million the year before, easily topping expectations, with global supply disruptions driving very strong refining results. Valero returned 59% of adjusted operating cash flow to shareholders as net debt/capital fell to 11%.

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Valero Energy Corp

Valero Earnings: Global Disruptions Drive Strong Results; Near-term Outlook Suggests More to Come

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