Valero Earnings Beat Wall Street, Impressive Quarter for DGD
Valero Energy earnings beat Wall Street analyst estimates for the Q2 2023 by posting a $5.40 per share profit, beating the average analysts’ estimate of $5.08. Revenue plummeted to $34.5 billion, falling below analysts’ expectations of $34.82 billion. Revenue was well below the $51.6 billion posted for Q2 2022.
One of the larger surprises to come from the Q2 report was how well the renewable diesel segment performed. Valero’s joint venture with Darling Ingredients, Diamond Green Diesel (DGD), played a significant role in third quarter and year to date performance.
Renewable Diesel
The renewable diesel business reported $440 million of operating income for the second quarter 2023 compared to $152 million for the second quarter of 2022. Renewable diesel sales volumes…
10.07.2024
CleanJoule seeks to break SAF blend wall, lower price
Startup producer CleanJoule says its sustainable aviation fuel (SAF) process could allow for blends of up to 100%, and could eventually be priced competitively with conventional jet fuel, Mukund...
10.07.2024
European market for animal fats and oils higher on strength in biodiesel, gasoil markets
Distillers’ corn oil (DCO) traded lower into Manly, Iowa on Monday October 7, falling by 0.25 cents per lb from the last traded price, the lone report in what...
10.07.2024
US poultry by-product prices steady to lower; hog slaughter forecast higher in Q4
Trading was mostly quiet in the US animal protein market on Monday October 7, with minimal price changes reported. Poultry items were indicated as steady to lower, though price...