San Antonio-based Valero Energy tops Street 4Q forecasts

SAN ANTONIO (AP) — Valero Energy Corp. has reported fourth-quarter earnings of $298 million.

The San Antonio-based company said Thursday that had a profit of 62 cents per share. Earnings, adjusted for one-time gains and costs, were $1.79 per share.

The results exceeded Wall Street expectations.

The oil refiner posted revenue of $18.78 billion in the period, also exceeding Street forecasts.

Valero Energy shares have declined roughly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased roughly 8 percent. The stock has climbed 29 percent in the last 12 months.

WNCT-TV 9 On Your Side provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus