Valero Energy: 3Q Earnings Snapshot
SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported third-quarter net income of $856 million.
On a per-share basis, the San Antonio-based company said it had net income of $2.01.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The oil refiner posted revenue of $30.85 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $31.82 billion.
Valero Energy shares have declined almost 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 1 percent. The stock has climbed 12 percent in the last 12 months.