Filing Flows › Valero Energy (VLO) › Q3 2026
Valero Energy (VLO) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
Valero Energy (VLO) reported revenue of $46.1B for the third quarter 2026 (Q3 2026), +43% from a year earlier and +4% from the quarter before. Operating margin was 19.7%, net earnings $6.8B (14.8% of revenue).
Valero Energy, Q3 2026: revenue $46.1B (+43% year over year), operating margin 19.7%, net earnings $6.8B, operating cash flow $6.9B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.1B | +4% | +43% |
| Operating profit | $9.1B | +75% | +501% |
| Net earnings | $6.8B | +84% | +524% |
| Operating cash flow | $6.9B | +24% | +269% |
What changed
Revenue was $46.1B in Q3 2026, up 43% year over year and up 4% from the previous quarter. Refining was the largest line at 96% of revenue. Refining added $14.0B year over year (up 46%), 100% of the total change. Renewable Diesel declined 8%.
Operating profit was $9.1B, a 19.7% margin (up 15.0 points year over year). Of the extra revenue versus Q3 2025, 54% reached operating profit, above the 5% margin then. Total costs grew 21% against revenue growth of 43%. The fastest-growing cost line was General & admin (+25%). Net earnings were $6.8B, up 524% year over year. The effective tax rate was 22.8%.
Operating cash flow was $6.9B (up 269% year over year), 99% of net income including minority interests. Non-cash charges added back $0.68B of depreciation and amortization. Working capital and other items used $0.74B.
Questions
What was Valero Energy's revenue in the third quarter 2026?
Valero Energy (VLO) reported revenue of $46.1B for the third quarter 2026 (Q3 2026), +43% from a year earlier and +4% from the quarter before.
Was Valero Energy profitable in the third quarter 2026?
Operating profit was $9.1B (19.7% of revenue) and net earnings $6.8B.
Source: Valero Energy 10-Q on SEC EDGAR.