Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids. As of December 31, 2021, the company owned 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day; and 12 ethanol plants with a combined ethanol production capacity of approximately 1.6 billion gallons per year. It sells its refined products through wholesale rack and bulk markets; and through approximately 7,000 outlets under the Valero, Beacon, Diamond Shamrock, Shamrock, Ultramar, and Texaco brands. The company also produces and sells ethanol, dry distiller grains, syrup, and inedible corn oil primarily to animal feed customers. In addition, it owns and operates crude oil and refined petroleum products pipelines, terminals, tanks, marine docks, truck rack bays, and other logistics assets; and owns and operates a plant that processes animal fats, used cooking oils, and inedible distillers corn oils into renewable diesel. The company was formerly known as Valero Refining and Marketing Company and changed its name to Valero Energy Corporation in August 1997. Valero Energy Corporation was founded in 1980 and is headquartered in San Antonio, Texas.

Valero Energy Corporation

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Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	123,071	123,779	128,380	129,881	134,539	140,067
Total Revenues %Chg	-8.5%	-11.6%	-8.4%	-10.3%	-11%	-10.9%
Revenues
Cost of Sales	115,937	117,812	122,325	122,347	125,768	128,284
Cost of Materials and Other
Lower of Cost or Market Inventory Valuation Adjustment
Operating Expenses
Gross Profit	7,134	5,967	6,055	7,534	8,771	11,783
Gross Profit Margin	5.8%	4.8%	4.7%	5.8%	6.5%	8.4%
Selling, General & Administrative Expenses	993	981	964	961	990	1,006
General and Administrative Expenses
Depreciation & Amortization Expenses	3,039	2,888	2,770	2,774	2,766	2,763
Depreciation and Amortization Expense
Depreciation and Amortization Expense
Other Operating Expenses	17	15	14	44	21	24
Other Operating Expenses
Asset Impairment Loss
Operating Profit	1,954	952	1,176	3,755	4,960	7,956
Operating Income
Operating Margin	1.6%	0.8%	0.9%	2.9%	3.7%	5.7%
Interest Expense	-552	-554	-553	-556	-570	-578
Non-Operating Income	402	439	475	499	534	533
Other Income, Net
Total Non-Operating Income	-150	-115	-78	-57	-36	-45
Income Before Provision for Income Taxes	1,804	837	1,098	3,698	4,924	7,911
Income Before Income Tax Expense
Provision for Income Taxes	370	76	74	692	1,057	1,774
Income Tax Expense
Consolidated Net Income	1,434	761	1,024	3,006	3,867	6,137
Net Income Attributable to Minority Interests and Other	-61	-3	94	236	176	188
Less: Net Income Attributable to Noncontrolling Interests
Net Income Attributable to Common Shareholders	1,495	764	930	2,770	3,691	5,949
Net Income Attributable to Valero Energy Corporation Stockholders
Basic EPS	4.8	2.4	2.8	8.6	11.1	17.5
Diluted EPS	4.8	2.4	2.8	8.6	11.1	17.5
Basic Weighted Average Shares Outstanding	312.5	314.8	317.8	322	327.5	335.3
Total Shares Outstanding	305	310.7	313.2	314.9	316.6	320.4
Diluted Weighted Average Shares Outstanding	312.8	315	318	322	327.8	335.5
EBITDA	4,993	3,840	3,946	6,529	7,726	10,719
Effective Tax Rate	20.5%	9.1%	6.7%	18.7%	21.5%	22.4%