Valero Energy reported its third-quarter 2024 earnings, revealing an adjusted earnings per share (EPS) of $1.14, surpassing analysts' expectations of $0.98. The company's revenue reached $32.88 billion, exceeding the estimated $30.95 billion. However, Valero faced significant challenges due to weak refining margins, with a reported refining margin per barrel of $9.09, above the estimate of $8.82. The Gulf Coast refining margin was reported at $1.5 billion, a 49% decline year-over-year, though it was slightly above the estimated $1.42 billion. The company indicated that these multi-year low refining margins were a substantial factor affecting its overall performance, which is expected to impact other refiners and integrated oil and gas supermajors in the United States.