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Source document· January 29, 2026

Valero outlines $1.7B capital investment plan for 2026 while advancing optimization projects

View original at seekingalpha.com

Valero outlines $1.7B capital investment plan for 2026 while advancing optimization projects Earnings Call Insights: Valero Energy Corporation (VLO) Q4 2025 MANAGEMENT VIEW * Lane Riggs, CEO, President & Chairman, opened by noting "our continued commitment to safe, reliable and environmentally responsible operations re…

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Valero achieved record refining throughput and record ethanol production for both the fourth quarter and the full year 2025
80% confidence
Valero has historically run as much as 240,000 barrels per day of Venezuelan heavy crude and expects increased processing capability
80% confidence
Refining fundamentals are expected to remain supported by continued demand growth and tight supply environment driven by limited capacity additions
80% confidence
Q4 2025 net income attributable to Valero stockholders was $1.1 billion or $3.73 per share
80% confidence
Demand is outpacing additional supply in light products
80% confidence
Increased Canadian and Venezuelan crude supply will benefit Valero
80% confidence
Valero returned $1.4 billion in cash to shareholders in Q4 2025 with a payout ratio of 66%
80% confidence
Valero's return on share buybacks is above mid-teens over a 10-year period
80% confidence
Valero is committed to disciplined capital allocation framework that prioritizes balance sheet strength, disciplined capital investments and shareholder returns
80% confidence
Refining throughput volumes in Q4 2025 averaged 3.1 million barrels per day or 98% throughput capacity utilization
80% confidence
The significant build in total light product inventory is attributed to high refinery utilization, not weak demand
80% confidence
Valero achieved a record for mechanical availability in 2025
80% confidence
Valero captured favorable refining margins during Q4 driven by strong product cracks and widening sour crude discounts
80% confidence
Venezuelan crude discounts look favorable heading into 2026
80% confidence
Renewable diesel market will see 2026 starting off more like the second half of 2025, indicating a stronger year in 2026 versus 2025
80% confidence