Loading…
Loading…
Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Neil Mehta | Goldman Sachs | 12 | 0% |
| Matt Blair | Tudor, Pickering, Holt | 12 | 8% |
| Joe Laetsch | Morgan Stanley | 12 | 0% |
| Theresa Chen | Barclays | 12 | 0% |
| Doug Leggate | Wolfe Research | 11 | 27% |
| Jason Gabelman | TD Cowen | 11 | 0% |
| Manav Gupta | UBS | 11 | 0% |
| Paul Cheng | Scotiabank | 10 | 0% |
| Ryan Todd | Piper Sandler | 10 | 0% |
| Phillip Youngworth | BMO Capital Markets | 8 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Tudor, Pickering, Holt | 1 | 12 | 8% |
| Morgan Stanley | 1 | 12 | 0% |
| Barclays | 1 | 12 | 0% |
| Goldman Sachs |
| 1 |
| 12 |
| 0% |
| TD Cowen | 1 | 11 | 0% |
| Wolfe Research | 1 | 11 | 27% |
| UBS | 1 | 11 | 0% |
| Scotiabank | 1 | 10 | 0% |
Valero delivered Q1 net income of $1.3B ($4.22 per share), a dramatic reversal from the year-ago net loss of $595M, as heavy sour crude advantage drove feedstock gains with refining throughput at 2.9 million barrels per day. Proactive risk management limited volatility, and the Iran conflict tightened global refining supply, supporting margins. Ethanol demand surged on global octane economics, and a Port Arthur fire caused temporary disruption but was contained. CAPEX guidance remained unchanged while no forward financial guidance was provided.
Supply Chain | Competitive Dynamics | Margin | Regulation Policy | Demand | Capital Allocation | Macroeconomic | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 7 | 11 | 5 | 3 | 1 | 2 | |
| 2025Q1 | 3 | 2 | 6 | 7 | 6 | 5 | 4 | |
| 2025Q2 | 8 | 9 | 6 | 7 | 3 | 3 | 2 | |
| 2025Q3 | 10 | 9 | 6 | 3 | 3 | 2 | 3 | |
| 2025Q4 | 10 | 10 | 8 | 7 | 3 | 3 | 4 | 3 |
| 2026Q1 | 7 | 4 | 3 | 4 | 2 | 2 | 4 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Supply Chain | 6 | 3 | 8 | 10 | 10 | 7 |
| Competitive Dynamics | 7 | 2 | 9 | 9 | 10 | 4 |
| Margin | 11 | 6 | 6 | 6 | 8 | 3 |
| Regulation Policy | 5 | 7 | 7 | 3 | 7 | 4 |
| Demand | 3 | 6 | 3 | 3 | 3 | 2 |
| Capital Allocation | 1 | 5 | 3 | 2 | 3 | 2 |
| Macroeconomic | 2 | 3 | 4 | 4 | ||
| Capex Investment | 2 | 4 | 3 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
VLO Valero Energy | 7 | +7.0% | |
| MPC Marathon Petroleum | 8 | +9.7% | |
| PSX Phillips 66 | 8 | +11.7% |