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.
Keywords: Valero Energy, Earnings Report