Valero Energy Q3 2026: revenue hits $46.1 billion, diluted EPS at $23.89

what happened

Valero Energy reported third-quarter results with revenue of $46.1 billion and net income attributable to stockholders of $6.83 billion, against $32.17 billion and $1.1 billion a year earlier, TradingView said. Diluted earnings per share reached $23.89, up from $3.53. The refining margin widened by $7.0 billion year over year, helped by stronger gasoline and distillate margins, though lower throughput offset part of the gain.

The company wound down its Benicia plant in California, ending refining there by the end of April 2026 and cutting West Coast volumes. A March fire at Port Arthur halted output; the site restarted in April at lower rates and was back to normal throughput in the second quarter.

Valero said tight global fuel stocks and ongoing supply disruptions could support refining conditions, and demand for renewable diesel is expected to stay robust.

why it matters

The margin rebound is the main driver for refiners, since it flows directly into earnings and can lift shares across the sector. Limited fuel inventories also keep gasoline and diesel prices sensitive to any further outages.

market impact

Valero and refiners: strong margins and earnings support the sector

• ▲Valero shares (VLO) pressure up — record quarterly profit and wider refining margins
• ▲Diesel prices pressure up — tight global fuel stocks and supply outages support product prices

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instruments