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Valero Energy Reports 2023 Fourth Quarter and Full Year Results

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Thursday, January 25, 2024

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $1.2 billion, or $3.55 per share, for the fourth quarter of 2023, compared to $3.1 billion, or $8.15 per share, for the fourth quarter of 2022.

Key Points:

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $1.2 billion, or $3.55 per share, for the fourth quarter of 2023, compared to $3.1 billion, or $8.15 per share, for the fourth quarter of 2022.
The Refining segment reported operating income of $1.6 billion for the fourth quarter of 2023, compared to $4.3 billion for the fourth quarter of 2022.
Operating income was lower than the fourth quarter of 2022 due to lower renewable diesel margin in the fourth quarter of 2023.
Adjusted operating income was $205 million for the fourth quarter of 2023, compared to $69 million for the fourth quarter of 2022.

Darling Ingredients Inc. Statement on Fiscal Year 2023 Earnings

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Thursday, January 25, 2024

Diamond, DGD, Food, DAR, Aviation, Feed, Fuel, Video game

IRVING, Texas, Jan. 25, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today released the following statement regarding fourth quarter and fiscal year 2023 earnings.

Key Points:

IRVING, Texas, Jan. 25, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today released the following statement regarding fourth quarter and fiscal year 2023 earnings.
Fourth quarter and fiscal year 2023 earnings for Darling Ingredients' 50/50 joint venture known as Diamond Green Diesel (DGD) were released earlier today by Darling's joint venture partner.
Darling Ingredients will release its fourth quarter and fiscal year 2023 earnings on or around February 27, 2024, and expects to deliver its sixth consecutive year of record earnings for fiscal year 2023.
The company will provide additional details regarding its 2024 outlook during its fiscal year 2023 earnings call.

Darling Ingredients Inc. Statement on 2023 Guidance and 2024 Outlook

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Thursday, October 26, 2023

Diamond, DAR, DGD, LCFS, Heat, EBITDA, Ingredient, Álex Rins, Acquisition, NYSE, Q2, Q3

IRVING, Texas, Oct. 26, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today released the following statement regarding 2023 guidance and 2024 outlook.

Key Points:

IRVING, Texas, Oct. 26, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today released the following statement regarding 2023 guidance and 2024 outlook.
We have seen extreme volatility in the heating oil market, which resulted in a sizeable hedge loss.
Additionally, a sell off in D4 RINs coupled with stagnant LCFS prices, produced lower than anticipated margins at DGD.
Darling Ingredients' core business has delivered as communicated during the Q2 earnings call, slightly lower than Q2 and seasonally normal for Q3.

Valero Energy Reports Third Quarter 2023 Results

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Thursday, October 26, 2023

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $2.6 billion, or $7.49 per share, for the third quarter of 2023, compared to $2.8 billion, or $7.19 per share, for the third quarter of 2022.

Key Points:

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $2.6 billion, or $7.49 per share, for the third quarter of 2023, compared to $2.8 billion, or $7.19 per share, for the third quarter of 2022.
The Refining segment reported operating income of $3.4 billion for the third quarter of 2023, compared to $3.8 billion for the third quarter of 2022.
Operating income was lower than the third quarter of 2022 primarily due to lower renewable diesel margin in the third quarter of 2023.
General and administrative expenses were $250 million in the third quarter of 2023, compared to $214 million in the third quarter of 2022.

Valero Energy Reports Second Quarter 2023 Results

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Thursday, July 27, 2023

Oil, Gas, Energy, Diamond, Table, DGD, SAF, VLO, Fuel oil, Valero Energy, Aviation biofuel, Ethanol, NYSE, Holding company, Video game, Cryptocurrency, Valero

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $1.9 billion, or $5.40 per share, for the second quarter of 2023, compared to $4.7 billion, or $11.57 per share, for the second quarter of 2022.

Key Points:

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $1.9 billion, or $5.40 per share, for the second quarter of 2023, compared to $4.7 billion, or $11.57 per share, for the second quarter of 2022.
The Refining segment reported operating income of $2.4 billion for the second quarter of 2023, compared to $6.2 billion for the second quarter of 2022.
The Ethanol segment reported $127 million of operating income for the second quarter of 2023, compared to $101 million for the second quarter of 2022.
General and administrative expenses were $209 million in the second quarter of 2023, compared to $233 million in the second quarter of 2022.

Darling Ingredients Inc. Issues 2022 Sustainability Progress Report

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Monday, July 24, 2023

Diamond, Science, DAR, Carbon accounting, Targets, Science Based Targets initiative, Sustainability, Acquisition, NYSE, DGD, Natural gas, Renewable energy

IRVING, Texas, July 24, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) has released its 2022 Sustainability Progress Report , which provides a detailed overview of the company's progress against key environmental, social and governance objectives throughout 2022.

Key Points:

IRVING, Texas, July 24, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) has released its 2022 Sustainability Progress Report , which provides a detailed overview of the company's progress against key environmental, social and governance objectives throughout 2022.
"Our Sustainability Progress Report outlines how our unique size and scale allow Darling Ingredients to enable entire industries to be less wasteful and more sustainable, demonstrating that sustainability is core to who we are and what we do."
Improved global emissions intensity by more than 8%, per unit of raw material processed, compared to 2020, marking strong progress alongside business growth.
The report also describes steps taken to enable future sustainability success, including completing the company's first-ever double materiality assessment and adding new leadership to help define near- and long-term sustainability strategy, set targets and enable change throughout global operations.

Valero Energy Reports First Quarter 2023 Results

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Thursday, April 27, 2023

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $3.1 billion, or $8.29 per share, for the first quarter of 2023, compared to $905 million, or $2.21 per share, for the first quarter of 2022.

Key Points:

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $3.1 billion, or $8.29 per share, for the first quarter of 2023, compared to $905 million, or $2.21 per share, for the first quarter of 2022.
The Refining segment reported operating income of $4.1 billion for the first quarter of 2023, compared to $1.5 billion for the first quarter of 2022.
The Ethanol segment reported $39 million of operating income for the first quarter of 2023, compared to $1 million for the first quarter of 2022.
General and administrative expenses were $244 million in the first quarter of 2023, compared to $205 million in the first quarter of 2022.

Darling Ingredients Inc. Reports Fourth Quarter and Fiscal Year 2022 Results

Retrieved on:

Monday, February 27, 2023

IRVING, Texas, Feb. 27, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today reported net income of $156.6 million, or $0.96 per diluted share for fourth quarter 2022, compared to net income of $155.8 million, or $0.94 per diluted share, for fourth quarter 2021. The company also reported net sales of $1.8 billion for the fourth quarter of 2022, as compared with net sales of $1.3 billion for the same period a year ago.

Key Points:

For the 2022 fiscal year, Darling Ingredients reported net income of $737.7 million, or $4.49 per diluted share, as compared to $650.9 million, or $3.90 per diluted share for 2021.
Net sales for fiscal year 2022 were $6.5 billion, as compared with net sales of $4.7 billion in 2021.
Combined adjusted EBITDA for the fourth quarter 2022 was $413.0 million, compared to $306.8 million for the same period in 2021.
Capital expenditures were $134.1 million for the fourth quarter and $391.3 million for fiscal year 2022.

Darling Ingredients Chosen as Panda Express' Preferred Nationwide Provider for Used Cooking Oil Recycling for Renewable Fuel

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Tuesday, February 21, 2023

Diamond, Facility, Restaurant, Recycling, SAF, Natural Resources, DAR, NYSE, Carbon, Panda Express, Work, Ingredient, Giant panda, Panda Restaurant Group, DGD, Renewable energy

IRVING, Texas, Feb. 21, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's leading company turning food waste into sustainable products and renewable energy, today announced Panda Restaurant Group, Inc. has chosen Darling Ingredients to recycle its used cooking oil into sustainable products, such as cleaner burning renewable diesel.

Key Points:

IRVING, Texas, Feb. 21, 2023 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's leading company turning food waste into sustainable products and renewable energy, today announced Panda Restaurant Group, Inc. has chosen Darling Ingredients to recycle its used cooking oil into sustainable products, such as cleaner burning renewable diesel.
Darling Ingredients' restaurant service brand, DAR PRO Solutions , will collect and recycle used cooking oil from nearly all of the almost 2,400 Panda Express restaurants in the United States.
"Used cooking oil is considered one of the most effective renewable diesel feedstocks because of its lower carbon intensity compared to other feedstocks.
Darling Ingredients' used cooking oil storage systems provide safe and sustainable methods for storage and seamless collection, streamlining daily restaurant operations.

Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas

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Tuesday, January 31, 2023

Valero Energy Corporation (NYSE: VLO, “Valero”) and Darling Ingredients Inc. (NYSE: DAR, “Darling”) announced today that the companies have made the final investment decision on a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50/50 joint venture between Valero and Darling.

Key Points:

Valero Energy Corporation (NYSE: VLO, “Valero”) and Darling Ingredients Inc. (NYSE: DAR, “Darling”) announced today that the companies have made the final investment decision on a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50/50 joint venture between Valero and Darling.
Upon completion of the project, which is expected in 2025, the DGD Port Arthur plant will have the capability to upgrade approximately 50 percent of its current 470 million gallon annual production capacity to SAF.
With the completion of this project, DGD is expected to be one of the largest SAF manufacturers in the world.
“Underpinned by strong interest from customers, sustainable aviation fuel provides an economic path to further reduce the carbon intensity of our products while expanding our long-term competitive advantage.”