SAN ANTONIO — Valero Energy Corp. (VLO) on Wednesday reported third-quarter profit of $1.38 billion.
The San Antonio-based company said it had profit of $2.79 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.
The oil refiner posted revenue of $22.58 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $17.11 billion.
Valero Energy shares have climbed 26 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has climbed 29 percent in the last 12 months.
Keywords: Valero Energy, Earnings Report