Valero Energy: 2Q Earnings Snapshot
SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported second-quarter earnings of $612 million.
The San Antonio-based company said it had profit of $1.47 per share. Earnings, adjusted for non-recurring costs, came to $1.51 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The oil refiner posted revenue of $28.93 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $26.65 billion.
Valero Energy shares have increased 15% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has dropped 20% in the last 12 months.