AI English summary of an SEC filing — figures as filed
Valero Energy VLOThe company said net income attributable to Valero stockholders for Q1 2024 was $1.2 billion ($3.75 per share), and adjusted net income was $1.3 billion ($3.82 per share). For Q1 2023, net income was $3.1 billion ($8.29 per share) and adjusted net income was $3.1 billion ($8.27 per share).
Key points
AI summaryThe company said net income attributable to Valero stockholders for Q1 2024 was $1.2 billion ($3.75 per share), and adjusted net income was $1.3 billion ($3.82 per share). For Q1 2023, net income was $3.1 billion ($8.29 per share) and adjusted net income was $3.1 billion ($8.27 per share).
Valero said Refining segment operating income for Q1 2024 was $1.7 billion, compared with $4.1 billion for Q1 2023. Refining throughput volumes averaged 2.8 million barrels per day. The company said it optimized throughput despite heavy planned maintenance across its refining system.
The company said net cash provided by operating activities was $1.8 billion in Q1 2024, and that it returned a total of $1.4 billion to stockholders, including dividends of $356 million and stock buybacks of about 6.6 million shares for $1.0 billion. Its payout ratio, based on adjusted net cash provided by operating activities, was 74%.
The company said it repaid the $167 million outstanding principal balance of its 1.200% Senior Notes, which matured on March 15. As of Q1 2024, total debt was $8.5 billion, finance lease obligations were $2.4 billion, and cash and cash equivalents were $4.9 billion.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.
Q1 2024 Net Income and Adjusted Net Income
The company said net income attributable to Valero stockholders for Q1 2024 was $1.2 billion ($3.75 per share), and adjusted net income was $1.3 billion ($3.82 per share). For Q1 2023, net income was $3.1 billion ($8.29 per share) and adjusted net income was $3.1 billion ($8.27 per share).
Source · Based on the filing body and exhibits
Refining Segment Operating Income and Throughput
Valero said Refining segment operating income for Q1 2024 was $1.7 billion, compared with $4.1 billion for Q1 2023. Refining throughput volumes averaged 2.8 million barrels per day. The company said it optimized throughput despite heavy planned maintenance across its refining system.
Source · Based on the filing body and exhibits
Q1 2024 Operating Cash Flow and Shareholder Returns
The company said net cash provided by operating activities was $1.8 billion in Q1 2024, and that it returned a total of $1.4 billion to stockholders, including dividends of $356 million and stock buybacks of about 6.6 million shares for $1.0 billion. Its payout ratio, based on adjusted net cash provided by operating activities, was 74%.
Source · Based on the filing body and exhibits
Senior Notes Repayment and Quarter-End Financial Position
The company said it repaid the $167 million outstanding principal balance of its 1.200% Senior Notes, which matured on March 15. As of Q1 2024, total debt was $8.5 billion, finance lease obligations were $2.4 billion, and cash and cash equivalents were $4.9 billion.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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