Valero Energy: 4Q Earnings Snapshot
SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported fourth-quarter earnings of $952 million.
On a per-share basis, the San Antonio-based company said it had net income of $2.24. Earnings, adjusted for pretax gains, came to $2.12 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The oil refiner posted revenue of $28.73 billion in the period.
For the year, the company reported profit of $3.12 billion, or $7.29 per share. Revenue was reported as $117.03 billion.
Valero Energy shares have climbed 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 7 percent. The stock has declined 12 percent in the last 12 months.