Valero Energy Goes Red
Valero Energy (NYS: VLO) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Valero Energy beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped to a loss.
Gross margins contracted, operating margins increased, net margins contracted.
Valero Energy logged revenue of $35.17 billion. The four analysts polled by S&P Capital IQ hoped for sales of $32.74 billion on the same basis. GAAP reported sales were 35% higher than the prior-year quarter's $26.09 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.78. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.27 per share. GAAP EPS were -$0.78 for Q1 compared to $0.17 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 2.6%, 20 basis points worse than the prior-year quarter. Operating margin was 1.0%, 10 basis points better than the prior-year quarter. Net margin was -1.2%, 160 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $37.91 billion. On the bottom line, the average EPS estimate is $1.55.
Next year's average estimate for revenue is $127.07 billion. The average EPS estimate is $3.74.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 4,381 members out of 4,567 rating the stock outperform, and 186 members rating it underperform. Among 1,086 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,059 give Valero Energy a green thumbs-up, and 27 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Valero Energy is outperform, with an average price target of $29.79.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.