Filing Flows › Valero Energy (VLO) › Q1 2025
Valero Energy (VLO) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Valero Energy (VLO) reported revenue of $30.3B for the first quarter 2025 (Q1 2025), -5% from a year earlier and -2% from the quarter before. Operating margin was -3.0%, net loss $652M (2.2% of revenue).
Valero Energy, Q1 2025: revenue $30.3B (-5% year over year), operating margin -3.0%, net loss $652M, operating cash flow $952M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.3B | -2% | -5% |
| Operating profit | −$900M | — | — |
| Net earnings | −$652M | — | — |
| Operating cash flow | $952M | -11% | -48% |
| Free cash flow | $293M | -44% | -75% |
What changed
Revenue was $30.3B in Q1 2025, down 5% year over year and down 2% from the previous quarter. Refining was the largest line at 95% of revenue. Refining lost $1.4B year over year (down 5%), 92% of the total change.
Operating costs exceeded revenue by $0.90B, an operating margin of -3.0%. Total costs grew 4% against a revenue fall of 5%. The quarter ended with a net loss of $0.65B, after a profit of $0.36B the previous quarter. Minority interests bore $0.06B of it: to shareholders the quarter was a loss of $0.59B.
Operating cash flow was $1.0B (down 48% year over year). Non-cash charges added back $0.69B of depreciation and amortization. Working capital and other items added $0.91B. Capital expenditures of $0.66B left free cash flow of $0.29B.
Questions
What was Valero Energy's revenue in the first quarter 2025?
Valero Energy (VLO) reported revenue of $30.3B for the first quarter 2025 (Q1 2025), -5% from a year earlier and -2% from the quarter before.
Was Valero Energy profitable in the first quarter 2025?
Operating loss was $900M (-3.0% of revenue) and net loss $652M.
Source: Valero Energy 10-Q on SEC EDGAR.