Valero Energy Sees Q2 Net Income Cut in Half

Valero Energy Corporation (NYSE: VLO) announced its financial results for the second quarter of 2024, revealing a notable decrease in net income. The company reported net income attributable to Valero stockholders of $880 million, or $2.71 per share, down significantly from $1.9 billion, or $5.40 per share, in the same period last year. In the refining sector, Valero saw a decline in operating income to $1.2 billion from $2.4 billion in Q2 2023. Despite this, the company highlighted robust performance in its U.S. wholesale system, with sales surpassing…