Short answer
Valero Energy (VLO) filed its Q3 2025 10-Q quarterly report on Oct 23, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $32.2B (down 2.2% year over year) with net income of $1.1B.
Q3 2025 key financials · XBRL
- Revenue
- $32.2B
- −2.2% YoY · +7.6% QoQ
- Net income
- $1.1B
- +200.8% YoY · +53.4% QoQ
- Operating margin
- 4.7%
- EPS (diluted)
- $3.52
- +195.8% YoY · +55.1% QoQ
Source: XBRL data from the Valero Energy (VLO) Q3 2025 10-Q on SEC EDGAR. USD.
Valero Energy Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $32.2B Q3 2025, down $708M YoY from $32.9B in Q3 2024; 9M 2025 revenue $92.3B, down $6.8B YoY from $99.1B
- Operating income $1.5B Q3 2025 vs $1.0B Q3 2024; Q3 adjusted operating income $1.56B vs $1.05B YoY; 9M adjusted operating income $2.8B vs $3.45B YoY
- Best segment Q3: Refining operating income $1.6B, +54% YoY; Worst segment Q3: Renewable Diesel -$28M loss, improved from -$63M YoY
- Cash from operations $3.8B 9M 2025 vs $5.6B prior year; capital investments $1.5B; stock repurchases and dividends $2.6B; cash increased by $112M to $4.9B
- Outlook: Global gasoline, diesel, jet fuel demand rising; crude oil differentials expected to widen; Renewable Diesel demand stable; ethanol seasonal demand expected
Risk Factors
- Carried-forward market risk: volatility in crude oil prices impacting refining margins and earnings stability
- Carried-forward regulatory risk: compliance with evolving environmental regulations including emissions standards
- Carried-forward financial risk: exposure to liquidity and debt maturities with $4.5 billion long-term debt outstanding
- Carried-forward operational risk: dependence on refinery uptime and capacity utilization affecting near-term cash flows
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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