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…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...