Valero Energy (NYSE: VLO) is expected to report Q2 earnings around July 23. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Valero Energy's revenues will compress -12.9% and EPS will shrink -35.3%.

The average estimate for revenue is $30.18 billion. On the bottom line, the average EPS estimate is $0.97.

Revenue details
Last quarter, Valero Energy tallied revenue of $33.47 billion. GAAP reported sales were 4.9% lower than the prior-year quarter's $34.93 billion.

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

EPS details
Last quarter, EPS came in at $1.18. GAAP EPS were $1.18 for Q1 compared to -$0.78 per share for the prior-year quarter.

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

Recent performance
For the preceding quarter, gross margin was 5.0%, 240 basis points better than the prior-year quarter. Operating margin was 3.2%, 210 basis points better than the prior-year quarter. Net margin was 2.0%, 320 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $123.24 billion. The average EPS estimate is $4.46.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,359 members out of 4,550 rating the stock outperform, and 191 members rating it underperform. Among 955 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 926 give Valero Energy a green thumbs-up, and 29 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 $48.44.

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