Valero energy reports q1 adjusted earnings per share of $0.34

Valero energy reports first quarter 2020 results.q1 adjusted earnings per share $0.34.q1 loss per share $4.54.entered into a new 364-day $875 million revolving credit facility on april 13, which remains undrawn.deferred about $100 million in tax payments due in q1 of 2020 and deferring about $400 million in capital projects for 2020.refinery throughput volumes averaged 2.8 million barrels per day in q1 of 2020.q1 adjusted, results exclude an after-tax lower of cost or market, or lcm, inventory valuation adjustment of about $2.0 billion.valero - expects to invest approximately $2.1 billion of capital in 2020, a reduction of $400 million from our prior guidance.valero - new st. charles alkylation unit remains on track to be completed in 2020.valero - diamond pipeline expansion should be completed in 2021.qtrly revenues $22.10 billion versus $24.26 billion.valero - dgd plant expansion should also be completed in 2021, subject to covid-19 related delay.valero - port arthur coker and the pembroke cogen unit projects have been slowed, pushing out mechanical completion by 6 to 9 months.valero energy - continues to target a total payout ratio between 40 and 50 percent of adjusted net cash provided by operating activities for 2020.valero - ended q1 with $11.5 billion of total debt and finance lease obligations and $1.5 billion of cash and cash equivalents.
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