Valero Energy Corp (VLO) Q1 2020 Earnings Call Transcript

Valero Energy Corp (VLO) Q1 2020 Earnings Call Transcript

[Operator Instructions] I would now like to hand the conference over to your speaker, Mr. Homer Bhullar, Vice President of Investor Relations.. With me today are Joe Gorder, our Chairman and Chief Executive Officer; Lane Riggs, our President and COO; Donna Titzman, our Executive Vice President and CFO; Jason Fraser, our Executive Vice President and General Counsel; Gary Simmons, our Executive Vice President and Chief Commercial Officer and several other members of Valero's senior management team.. In summary, it says that statements in the press release and on this conference call that state the company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the Safe Harbor provisions under Federal Securities laws.. We've adjusted the throughput rates at our refineries to more closely match product supply with demand to ensure that our supply chain does not become physically infeasible.. So the actions we've taken are consistent with the capital allocation framework we've had in place for several years.. First quarter 2020 adjusted net income attributable to Valero stockholders was $140 million or $0.34 per share compared to $181 million or $0.43 per share for the first quarter of 2019.. First quarter 2020 adjusted