Valero Energy Corporation (VLO) is the largest independent refiner and marketer of petroleum products in the U.S. It has a refining capacity of 3.0 million barrels per day across 15 refineries located throughout the U.S., Canada and the Caribbean. Valero is also a leading ethanol producer with 11 ethanol plants in the Midwest that have a combined capacity of 1.4 billion gallons per year.The company is one of the major independent retailers of refined petroleum products in central and southwestern U.S. and in eastern Canada, with about 7,500 retail outlets under various brand names, including Diamond Shamrock, Shamrock and Beacon.Currently, Valero has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below: Earnings: Valero misses on earnings. Earnings per share from continuing operations (excluding special items) came in at 60 cents, below the Zacks Consensus Estimate of 73 cents. Revenue: Revenues of $15.71 billion surpassed the Zacks Consensus Estimate of $10.81 billion.Key Stats: During the quarter, refining throughput volumes were 2.9 million barrels per day, up from the year-earlier level by 167,000 barrels per day.By feedstock composition, sweet crude, medium/light sour crude and heavy sour crude accounted for 41%, 18% and 15%, respectively. The remaining volumes came from residuals, other feedstock as well as blendstocks and others.Company-wide throughput margins decreased to $7.96 per barrel from the year-ago level of $12.39 per barrel.Check back later for our full write up on this Valero earnings report later! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report VALERO ENERGY (VLO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research