Valero Energy Corp. ( VLO ) stock rose Thursday following the release of its third-quarter fiscal 2025 earnings report, which exceeded analyst estimates.

The energy firm reported quarterly revenue of $32.2 billion, surpassing the analyst consensus estimate of $29.9 billion.

Concurrently, adjusted earnings reached $3.66 per share, which was above the estimated $3.05 per share expected by Wall Street.

Valero ended the quarter with $4.8 billion of cash and cash equivalents and $8.4 billion of total debt.

Segment Performance

Operational results showed the Refining segment was the largest contributor to operating income at $1.6 billion, a substantial increase from the $565 million recorded in the year-ago quarter.

The Ethanol segment also demonstrated growth, with operating income rising to $183 million, up from $153 million in the prior year period.

In contrast, the sustainable fuels venture faced challenges, as Renewable Diesel recorded an operating loss of $28 million, a directional shift from the $35 million in operating income generated in the prior year quarter.

CEO Commentary

Highlighting the quarter’s high utilization, Lane Riggs, chairman, president and CEO of Valero, stated, “Our refinery throughput utilization was 97 percent, with the Gulf Coast and North Atlantic regions setting new all-time highs for throughput – following last quarter’s record performance in the Gulf Coast.”

Strategic Investments

Valero is currently proceeding with strategic investments, including the $230 million FCC Unit optimization project at the St. Charles Refinery, an initiative designed to boost the refinery’s capacity to produce high-value products.

This project is scheduled to begin operations in the second half of 2026.

Investors seeking exposure to the stock can gain access through specialized ETFs, including the VanEck Oil Refiners ETF ( CRAK ) and the Invesco Energy Exploration & Production ETF ( PXE ) .

Price Action: VLO shares were trading higher by 3.11% to $166.90 premarket at last check Thursday.

Read Next:

Retail Investors’ Top Stocks With Earnings This Week: Tesla, Netflix, Intel and More