Last $61.69 USD
Change Today -0.28 / -0.45%
Volume 8.2M
As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

valero energy corp (VLO) Key Developments

Valero Energy Corporation Board Approves Amendments to its Bylaws

On January 23, 2015, the Board of Directors of Valero Energy approved an amendment to company's bylaws to eliminate the Executive Committee of the Board. The amendment was effective upon its approval by the Board.

Valero Energy Corporation Announces Unaudited Earnings and Production Results for the Fourth Quarter and Earnings Results for the Full Year Ended December 31, 2014; Provides Earnings Guidance for 2015 and 2016

Valero Energy Corporation announced unaudited earnings and production results for the fourth quarter and earnings results for the full year ended December 31, 2014. For the quarter, the company reported net income from continuing operations attributable to Valero stockholders of $1.2 billion, or $2.22 per share, in the fourth quarter of 2014 compared to $1.3 billion, or $2.38 per share, in the fourth quarter of 2013. Adjusting for special items, net income from continuing operations attributable to Valero stockholders was $952 million, or $1.83 per share, in the fourth quarter of 2014 compared to $963 million, or $1.78 per share, in the fourth quarter of 2013. In the fourth quarter of 2014, capital spending was $857 million, of which $157 million was for turnarounds and catalyst. Operating Revenue was $27,859 million compared with $34,429 million for the same period last year. Income from continuing operations before income tax expense was $1,704 million compared with $1,802 million for the same period last year. For the year ended December 31, 2014, net income from continuing operations attributable to Valero stockholders was $3.7 billion, or $6.97 per share, compared to $2.7 billion, or $4.96 per share, in 2013. Adjusting for special items, net income from continuing operations attributable to Valero stockholders was $3.5 billion, or $6.68 per share, in 2014 compared to $2.4 billion, or $4.41 per share, in 2013. Operating Revenue was $130,844 million compared with $138,074 million for the same period last year. Income from continuing operations before income tax expense was $5,552 million compared with $3,376 million for the same period last year. Fourth quarter 2014 refining throughput volumes averaged 2.8 million barrels per day, an increase of 41,000 barrels per day from the fourth quarter of 2013. Valero's refineries operated at 98% throughput capacity utilization in the fourth quarter of 2014. The company expects 2015 capital spending, including turnarounds and catalyst, to be $2.65 billion, which 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 net income to be $32 million and EBITDA to be $50 million. The company expects 2016 capital spending, including turnarounds and catalyst, to be $2.4 billion, which includes $1.4 billion for stay-in-business capital and $1 billion for growth investment, and excludes $300 million for a St. Charles methanol project that remains under evaluation.

Valero Energy Corporation to Pay Regular Quarter Cash Dividend, Payable on March 3, 2014

Valero Energy will pay a regular quarterly cash dividend on its common stock of $0.40 per share on March 3 to shareholders of record on February 11. The company has increased its dividend rate by 46% from the $0.275 per share paid for the previous quarter.

Valero Energy Corporation to Report Q4, 2014 Results on Jan 29, 2015

Valero Energy Corporation announced that they will report Q4, 2014 results at 10:00 AM, US Eastern Standard Time on Jan 29, 2015

Valero Energy Corporation, Q4 2014 Earnings Call, Jan 29, 2015

Valero Energy Corporation, Q4 2014 Earnings Call, Jan 29, 2015

 

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