Business mix
- It operates through three segments: Refining, Renewable Diesel, and Ethanol.
- It sells its refined products through wholesale rack and bulk markets; and through outlets under the Valero, Beacon, Diamond Shamrock, Shamrock, Ultramar, and Texaco brands.
- The company also owns and operates renewable diesel and ethanol plants, as well as produces and sells renewable diesel, renewable naphtha, and neat sustainable aviation fuel under the Diamond Green Diesel brand name.
- In addition, it offers ethanol and various co-products, including dry distillers grains, syrup, and inedible distillers corn oil to animal feed customers.
Current key questions
- How sensitive are revenue and cash flow to commodity prices, production volumes, and demand in oil & gas refining & marketing?
- Can capital spending, reserves, decline rates, and operating costs support durable free cash flow?
- Do balance-sheet discipline and shareholder returns remain resilient across the energy cycle?
