Valero Energy (NYSE: VLO) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Valero Energy beat expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped to a loss.

Gross margins contracted, operating margins increased, net margins contracted.

Revenue details
 Valero Energy logged revenue of $35.17 billion. The four analysts polled by S&P Capital IQ hoped for sales of $32.74 billion on the same basis. GAAP reported sales were 35% higher than the prior-year quarter's $26.09 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at -$0.78. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.27 per share. GAAP EPS were -$0.78 for Q1 compared to $0.17 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 2.6%, 20 basis points worse than the prior-year quarter. Operating margin was 1.0%, 10 basis points better than the prior-year quarter. Net margin was -1.2%, 160 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $37.91 billion. On the bottom line, the average EPS estimate is $1.55.

Next year's average estimate for revenue is $127.07 billion. The average EPS estimate is $3.74.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 4,381 members out of 4,567 rating the stock outperform, and 186 members rating it underperform. Among 1,086 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,059 give Valero Energy a green thumbs-up, and 27 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Valero Energy is outperform, with an average price target of $29.79.

Is Valero Energy the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.