๐น Revenue: $29.89B (Est. $26.97B) ๐ข
๐น Adjusted EPS: $2.28 (Est. $1.72) ๐ข
๐น Net Income: $714M; DOWN from $880M YoY
๐น GAAP EPS: $2.28; DOWN from $2.71 YoY
๐น Net Cash from Ops: $936M
๐น Adjusted Net Cash from Ops: $1.3B (ex-WC & JV impact)
๐น Capital Investments: $407M (incl. $371M sustaining)
๐น Dividend Declared: $1.13/share
Segment Performance:
Refining
๐น Operating Income: $1.3B (vs. $1.2B YoY)
๐น Throughput: 2.9M BPD
๐น Refining Margin/BBL: $12.35 (Est. $11.75) ๐ข
๐ธ Set record throughput rate in U.S. Gulf Coast
Renewable Diesel (Diamond Green Diesel JV)
๐น Operating Loss: ($79M) (vs. $112M income YoY)
๐น Sales Volume: 2.7M gallons/day
Ethanol
๐น Operating Income: $54M (vs. $105M YoY)
๐น Production Volume: 4.6M gallons/day
CEO Commentary:
๐ธ โWe delivered solid financial results for the quarter, driven by strong operational and commercial execution.โ
๐ธ โSet a record for refining throughput in the U.S. Gulf Coast region.โ
๐ธ โWe remain committed to commercial and operational excellence, backed by a strong balance sheet.โ
Financial Position:
๐น Total Debt: $8.4B
๐น Cash & Equivalents: $4.5B
๐น Debt-to-Cap Ratio (net of cash): 19%
๐น Repaid $251M in 2.85% Senior Notes
Strategic Update:
๐ธ FCC Unit optimization project at St. Charles Refinery underway
๐ธ Target completion in 2026; Estimated cost: $230M