Valero Energy

VLO · Energy · Market cap $91.2B

Q1 FY26 Mar 31, 2026 reported Apr 30, 2026

Revenue$32.4B +7% year over year

Gross profit$2.1B

Operating profit$1.7B

Net profit$1.3B 4% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	32.4	100%	+7%
Refining	30.8	95%	+7%
Ethanol	0.9	3%	−14%
Renewable Diesel	0.7	2%	+44%
Cost of revenue	−30.3	94%
Gross profit	2.1	6% margin	+5pp
G&A	−0.3	1%	+0pp
Other	−0	0%	+0pp
Operating profit	1.7	5% margin	+8pp
Tax	−0.3
Interest & other costs	−0.1
Net profit	1.3	4%	+6pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	30.4	100%	−1%
Refining	28.7	94%	−2%
Ethanol	1	3%	+9%
Renewable Diesel	0.7	2%	+40%
Cost of revenue	−28.5	94%
Gross profit	1.9	6% margin	+4pp
G&A	−0.3	1%	+0pp
Other	−0	0%	+0pp
Operating profit	1.6	5% margin	+4pp
Tax	−0.4
Interest & other costs	−0.1
Net profit	1.1	4%	+3pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	32.2	100%	−2%
Refining	30.4	94%	−3%
Ethanol	1	3%	+13%
Renewable Diesel	0.7	2%	+14%
Cost of revenue	−30.4	94%
Gross profit	1.8	6% margin	+3pp
G&A	−0.2	1%	+0pp
Other	−0	0%	+0pp
Operating profit	1.5	5% margin	+3pp
Tax	−0.4
Net profit	1.1	3%	+2pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	29.9	100%	−13%
Refining	28.3	95%	−14%
Ethanol	1	3%	+12%
Renewable Diesel	0.6	2%	+2%
Cost of revenue	−28.6	96%
Gross profit	1.2	4% margin	+0pp
G&A	−0.2	1%	+0pp
Other	−0	0%	+0pp
Operating profit	1	3% margin	+0pp
Tax	−0.3
Net profit	0.7	2%	+0pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Mar 31, 2026	Apr 30, 2026	$32.4B	+7%	5%	$1.3B	4%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 25, 2026	$30.4B	−1%	5%	$1.1B	4%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 23, 2025	$32.2B	−2%	5%	$1.1B	3%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 24, 2025	$29.9B	−13%	3%	$0.7B	2%