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• Valero Valero Energy Reports First Quarter 2021 Results Reported a net loss attributable to Valero stockholders of $ 704 million , or $ 1.73 per share , including estimated excess energy cost of $ 579 million , or $ 1.15 per share , related to impacts from Winter Storm Uri Returned $ 400 million in cash to stockholders through dividends and declared a regular quarterly cash dividend of $ 0.98 per share Announced the development of a large - scale carbon capture and storage project with BlackRock and Navigator Announced the sale of a partial interest in the Pasadena marine terminal joint venture ( MVP Terminalling ) for $ 270 million SAN ANTONIO , April 22 , 2021 Valero Energy Corporation ( NYSE : VLO , “ Valero " ) today reported a net loss attributable to Valero stockholders of $ 704 million , or $ 1.73 per share , for the first quarter of 2021 , compared to a net loss of $ 1.9 billion , or $ 4.54 per share , for the first quarter of 2020. The operating loss in the first quarter of 2021 includes estimated excess energy costs of $ 579 million , or $ 1.15 per share , related to impacts from Winter Storm Uri . Excluding the adjustments shown in the accompanying earnings release tables , adjusted net income attributable to Valero stockholders for the first quarter of 2020 was $ 140 million , or $ 0.34 per share . First quarter 2020 adjusted results exclude an after - tax lower of cost or market , or LCM , inventory valuation adjustment of approximately $ 2.0 billion . " Winter Storm Uri impacted operations and operating costs of many facilities in the U.S. Gulf Coast and U.S. Mid - Continent regions , including our facilities , " said Joe Gorder , Valero Chairman and Chief Executive Officer . “ I am very proud of our team for safely managing the utilities curtailments and the freeze by idling or shutting down the affected facilities and resuming operations without incident . "