For Valero, this year has been like no other. State and local leaders are taking prudent steps to protect the community while reopening businesses and schools, ensuring a safe return to more normal lives.
Despite the progress being made, many families are suffering hardships, and Valero remains committed to helping them.
For 40 years, Valero has had a strong connection to the United Way, providing funding that many charitable agencies rely upon. This year is no different. Valero employees demonstrated their commitment to San Antonio, pledging more than $4 million to the United Way 2020 campaign. As part of the United Way support, the Valero Energy Foundation and Valero employees donated $225,000 to the San Antonio Food Bank and helped fill 15,000 food boxes for local families.
As time goes on, it’s important to remember the health care heroes who are still on the front lines, working to save lives every day. Valero has provided 3,000 fuel cards to workers at six local hospitals in recognition of their tireless commitment to the community.
Like other essential, front-line workers, Valero employees have continued to operate the company’s critical facilities, providing products that fuel everyday life. Valero employees continue to do a great job managing through this pandemic.
Valero reported third-quarter 2020 results* on October 22, including an adjusted net loss of $472 million or -$1.16 per share. This was a modest improvement from last quarter due to incremental increases in product demand as activities and economies began to resume in the third quarter. Although the business faces pandemic-induced challenges, Valero remains well-capitalized with more than $4 billion in cash, enabling the company to manage through these times. Valero returned $399 million in cash through the dividend, demonstrating and reaffirming the steadfast commitment to the shareholders. Also, Valero continues to focus on strategic growth projects that will position the business for the long-term future, especially with Valero’s ranking as North America’s largest renewable fuels producer. Take a look at Valero’s new investor relations presentation at www.investorvalero.com highlighting how the company is actively participating in the energy transition, leveraging its global liquid fuels platform through investments in low-carbon projects.
Valero is driven to make a difference for San Antonio and the world.
*Third-quarter earnings release and quarterly report on Form 10-Q, available at www.valero.com