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Here's What Key Metrics Tell Us About Valero Energy (VLO) Q3 Earnings

Valero Energy (VLO) reported $38.4 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 13.6%. EPS of $7.49 for the same period compares to $7.14 a year ago.

The reported revenue represents a surprise of -1.42% over the Zacks Consensus Estimate of $38.96 billion. With the consensus EPS estimate being $7.36, the EPS surprise was +1.77%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Valero Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • U.S. Mid-Continent region - Refining margin per barrel of throughput: $20.53 versus $20.76 estimated by five analysts on average.

  • U.S. West Coast region - Refining margin per barrel of throughput: $30.19 versus the five-analyst average estimate of $30.07.

  • U.S. West Coast region - Throughput volumes per day: 271 thousands of barrels of oil versus 254.48 thousands of barrels of oil estimated by five analysts on average.

  • North Atlantic region - Refining margin per barrel of throughput: $20.39 versus $20.08 estimated by five analysts on average.

  • U.S. Gulf Coast region - Refining margin per barrel of throughput: $17.39 versus the five-analyst average estimate of $18.67.

  • U.S. Gulf Coast region - Throughput volumes per day: 1834 thousands of barrels of oil versus 1810.18 thousands of barrels of oil estimated by five analysts on average.

  • U.S. Mid-Continent region - Throughput volumes per day: 456 thousands of barrels of oil versus the five-analyst average estimate of 465.44 thousands of barrels of oil.

  • North Atlantic region - Throughput volumes per day: 461 thousands of barrels of oil versus the five-analyst average estimate of 450.01 thousands of barrels of oil.

  • Total operating revenues- Renewable diesel: $1.43 billion versus $1.23 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3% change.

  • Total operating revenues- Ethanol: $1.43 billion compared to the $1.29 billion average estimate based on three analysts. The reported number represents a change of +3.5% year over year.

  • Total operating revenues- Refining: $36.53 billion versus the three-analyst average estimate of $37.12 billion. The reported number represents a year-over-year change of -13.6%.

  • Total operating revenues- Corporate and Eliminations: -$990 million versus the two-analyst average estimate of -$679.27 million. The reported number represents a year-over-year change of +42.2%.

View all Key Company Metrics for Valero Energy here>>>

Shares of Valero Energy have returned -11.9% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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