Valero Energy: Q1 Earnings Snapshot
SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported a loss of $704 million in its first quarter.
The San Antonio-based company said it had a loss of $1.73 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.91 per share.
The oil refiner posted revenue of $20.81 billion in the period.
Valero Energy shares have risen 24% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has risen 42% in the last 12 months.