valero energy corp (VLO) Key Developments
Valero Energy Corporation Declares Quarterly Cash Dividend on Common Stock, Payable on June 10, 2015
Apr 30 15
The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend on the company's common stock of $0.40 per share. The dividend is payable on June 10, 2015 to holders of record at the close of business on May 13, 2015.
Valero Energy Corporation Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Capital Spending Guidance for the Year 2015 and Provides Effective Tax Rate Guidance for the Second Quarter of 2015
Apr 28 15
Valero Energy Corporation announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported operating revenues of $21,330 million against $33,663 million a year ago. Operating income was $1,495 million against $1,351 million a year ago. Income from continuing operations before income tax expense was $1,418 million against $1,266 million a year ago. Income from continuing operations was $968 million against $837 million a year ago. Net income attributable to the company stockholders was $964 million or $1.87 per diluted share against $828 million or $1.54 per diluted share a year ago. Net income attributable to the company stockholders from continuing operations was $964 million or $1.87 per diluted share against $829 million or $1.54 per diluted share a year ago. In the first quarter of 2015, capital spending was $698 million, of which $240 million was for turnarounds and catalyst. The effective tax rate was 31.7%. Cash flows in the first quarter included $698 million of capital spending, of which $240 million.
First quarter 2015 refining throughput volumes averaged 2.7 million barrels per day, an increase of 9,000 barrels per day from the first quarter of 2014. Valero's refineries operated at 92% throughput capacity utilization in the first quarter of 2015. Average quarterly ethanol production volumes were 3.8 million gallons per day in the first quarter of 2015, an increase of 681,000 gallons per day versus the first quarter of 2014. The increase in production was due to less weather-related rail disruptions in the first quarter of 2015 compared to 2014 combined with incremental production volumes from the new Mount Vernon plant.
For the second quarter 2015, the company expects effective tax rate is expected to be around 33%.
The company expects 2015 capital spending, including turnarounds and catalyst, to be $2.65 billion, as previously guided. This estimate includes $1.5 billion for stay-in-business capital and $1.15 billion for growth investment, and excludes $150 million for a St. Charles methanol project that remains under evaluation. The company expects the majority of growth investments in 2015 will be for light crude oil processing and logistics.
Valero Energy Corporation Presents at UBS 2015 Global Oil & Gas Conference, May-20-2015 01:05 PM
Apr 28 15
Valero Energy Corporation Presents at UBS 2015 Global Oil & Gas Conference, May-20-2015 01:05 PM. Venue: Four Seasons Downtown, 98 San Jacinto Blvd, Austin, Texas, United States. Speakers: Ashley Smith, Vice President, Investor Relations, Gary Simmons, Senior Vice President of Supply, International Operations and Systems Optimization, John Locke, Executive Director of Investor Relations, Lane Riggs, EVP, Refining Operations & Engineering.
Valero Energy Corporation, Annual General Meeting, Apr 30, 2015
Mar 20 15
Valero Energy Corporation, Annual General Meeting, Apr 30, 2015., at 10:00 Central Daylight. Location: Valero Energy Corporation HQ. Agenda: To elect directors to serve until the 2016 annual meeting of stockholders; to ratify the appointment of KPMG LLP as Valero Energy's independent registered public accounting firm for 2015; to approve, by nonbinding vote, the 2014 compensation of named executive officers; and to consider the proposal entitled "Greenhouse Gas Emissions.
Valero Energy Corporation to Report Q1, 2015 Results on Apr 28, 2015
Mar 4 15
Valero Energy Corporation announced that they will report Q1, 2015 results at 10:00 AM, US Eastern Standard Time on Apr 28, 2015