VALERO ENERGY CORP/TX — Form 8-K
Filed October 22, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 22/100
What the filing says
Valero reported Q3 2026 net income of $6.828 billion ($23.89 per share), compared to $1.095 billion ($3.53 per share) in Q3 2025—a 6.2x year-over-year increase. Refining operating income reached $8.782 billion (Q3 2025: $1.610 billion), with refining margin per barrel of throughput at $39.24 (Q3 2025: $13.14). The company repaid $100 million of 7.65% debentures (July maturity) and $426 million of 3.400% senior notes (September maturity). The St. Charles FCC Unit optimization project completed on schedule and within budget, enhancing production of higher-value products.
Why this rating
Exceptional earnings quarter but temporary commodity cycle gain relative to $41.8B market cap; Q3 2026 income ~16% of annual equity value but not structural change.
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