High Margins Give Boost to Valero Results

July 29, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Refiner and alternative fuels producer Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) quadrupled year-over-year refining margins in the recently completed second quarter of 2022, setting the company up for reported quarterly income of $4.7 billion, compared with $162 million in the second quarter of 2021. Valero reported a second-quarter refining margin of $8.09 billion, compared with $2.05 billion in the prior-year quarter. The company's Refining segment shown the brightest of the company's three operating segments during the quarter, with Ethanol and Renewable Diesel segments' incomes lagging behind.