On April 26, oil refining company Valero Energy
- Operating income grew 38% year over year to $1.8 billion thanks to growth in demand, limited supply, and the strong margin environment.
- Overall throughput capacity increased by 25,000 barrels per day at the Port Arthur, Texas, refinery, which also helped boost the quarterly numbers.
- In the first quarter, the company used $900 million to purchase nearly 15.6 million shares of common stock in the open market and raised the quarterly dividend 50% to $0.12 per share.
- In addition to the earnings release on Thursday, the company announced a $4 billion addition to its existing share repurchase plan.
- Valero has a five-star rating in Motley Fool CAPS based on input from more than 1,800 players.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$19,698 |
$20,927 |
(5.9%) |
|
Net Profit |
$1,144 |
$849 |
34.7% |
|
EPS |
$1.86 |
$1.32 |
40.9% |
|
Diluted Shares |
615 |
644 |
(4.5%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
17.2% |
13.6% |
3.6 |
|
Operating Margin |
9.0% |
6.4% |
2.6 |
|
Net Margin |
5.8% |
4.1% |
1.8 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$1,696 |
$436 |
289.0% |
The balance sheet reflects the company's health.
Cash Flow Highlights
No data available. How unrefined!
Free cash flow is a Fool's best friend.
Related Foolishness:
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