Valero Energy Corp

VLO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Valero Earnings: Advantageous Gulf Coast Position Delivers Another Exceptional Quarter

Allen Good

Oct 23, 2026

Valero's third-quarter adjusted earnings reached $6.8 billion from $1.1 billion the year before, again topping expectations, as global supply disruptions continue to underpin very strong refining margins. It returned 52% of adjusted operating cash flow to shareholders as net debt/capital fell to 4%.

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Valero Energy Corp

Valero Earnings: Advantageous Gulf Coast Position Delivers Another Exceptional Quarter

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