Refining giant whose stock has surged 170% this year delivers explosive results! Diesel spreads climb, Valero Energy (VLO.US) quarterly net profit soars 524%

Zhitong Finance APP has learned that Valero Energy (VLO.US), the U.S. refining giant whose stock price has surged 170% year to date, released its earnings report before the U.S. market opened on Thursday. The energy giant posted record third-quarter profit, highlighting how constrained global refined product supply amid geopolitical conflicts is translating into profit and cash flow advantages for U.S. refiners. Valero Energy's revenue and adjusted earnings per share both significantly beat market consensus expectations. The next trading focus is how long the high refining spreads for refined petroleum products such as diesel can be sustained, and whether the company can continue to deliver cyclical dividends to shareholders in the form of stronger buybacks or dividends.