Financial PerformanceThe company's 1Q24 adjusted EPS of $3.82 was above consensus estimates by approximately 18%.
Renewable FuelsThe Port Arthur SAF plant is ahead of schedule and is now expected to start up earlier, enabling the company to upgrade ~50% of its renewable diesel production capacity to Sustainable Aviation Fuel.
Shareholder ReturnsThe company returned $1.4 billion to shareholders in 1Q24, which was 74% of adjusted net cash provided by operating activities.