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Valero Energy beats 4Q profit and revenue expectations

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SAN ANTONIO — Valero Energy Corp. (VLO) on Thursday reported fourth-quarter earnings of $298 million.

The San Antonio-based company said it had 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 average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.

The oil refiner posted revenue of $18.78 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $15.15 billion.

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.

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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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