Valero Energy tops Q2 revenue, profit estimates as refining margins improve

Valero said results were driven by stronger performance across its businesses:

• Refining margins improved, and higher throughput volumes drove a sharp increase in segment operating income.
• The Renewable Diesel segment swung to operating income from a prior-year loss, supported by higher sales volumes and margins.
• The Ethanol segment saw operating income rise sharply on higher production volumes and improved margins.

Valero expects the St. Charles FCC Unit optimization project to begin operations in Q3 2026.

Analyst coverage currently shows an average rating of buy, with 11 strong buy or buy ratings, 9 hold ratings and 2 sell or strong sell ratings. The average consensus recommendation for the oil & gas refining and marketing peer group is buy.

Wall Street's median 12-month price target for Valero Energy Corp is $287.50, about 4.6% below its July 29 closing price of . The stock recently traded at the next 12-month earnings, versus a P/E of three months ago.