San Antonio-based Valero Energy misses 1Q profit forecasts

SAN ANTONIO (AP) — Valero Energy Corp. has reported first-quarter earnings of $495 million.

The San Antonio-based company said Tuesday that it had a per-share profit of $1.05. Earnings, adjusted for non-recurring gains, were 60 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The oil refiner posted revenue of $15.71 billion in the period.

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