Valero Energy beats 4Q net income and revenue expectations

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SAN ANTONIO — Valero Energy Corp. (VLO) on Thursday reported fourth-quarter earnings of $1.16 billion.

On a per-share basis, the San Antonio-based company said it had profit of $2.22. Earnings, adjusted for non-recurring gains, came to $1.83 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The oil refiner posted revenue of $27.86 billion in the period, which also beat Street forecasts. Analysts expected $25.14 billion, according to Zacks.

For the year, the company reported profit of $3.69 billion, or $6.97 per share. Revenue was reported as $130.84 billion.

Valero Energy shares have risen 4 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen nearly 3 percent. The stock has climbed almost 3 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLO at http://www.zacks.com/ap/VLO

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Keywords: Valero Energy, Earnings Report

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