Valero Energy said 2024 revenues decreased by $14.9 billion compared to 2023, cost of sales decreased by $6.8 billion, and operating income decreased by $8.1 billion from $11.9 billion to $3.8 billion.

1. 01

   Valero Energy said 2024 revenues decreased by $14.9 billion compared to 2023, cost of sales decreased by $6.8 billion, and operating income decreased by $8.1 billion from $11.9 billion to $3.8 billion.

2. 02

   The company said Refining segment operating income decreased by $7.5 billion in 2024 compared to 2023, citing as factors an unfavorable impact of approximately $4.3 billion from a decrease in distillate (primarily diesel) margins and approximately $2.4 billion from a decrease in gasoline margins.

3. 03

   Valero Energy said in 2024 it used $6.7 billion of cash generated by operations, $7.1 billion in debt borrowings, and $595 million of cash on hand to make $2.0 billion of investments in its business, repay $7.8 billion of debt and finance lease obligations, and return $4.3 billion to stockholders.

4. 04

   The company said it issued $650 million of Senior Notes bearing 5.150% interest and due February 7, 2025, and that the net proceeds are expected to be used for general corporate purposes, including the repayment, repurchase, or redemption of its outstanding Senior Notes due February 15, 2030 and other Senior Notes due in 2025.

Key figures

Fiscal year ended December 31, 2024

Revenue

$129.9B

Operating income

$3.8B

Net income

$2.8B

EPS

$8.58

Operating cash flow

$6.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

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