Valero Outshines Analyst Estimates

Benzinga
Benzinga
  • 3 years ago
Valero Energy Corp ($VLO@US) posted a quarterly profit that far exceeded analyst estimates on Thursday. With a 3rd quarter profit of $1.22 per share, the firm rose a full 30 cents above investor expectations. This earnings report comes despite a massive increase in global oil prices, which generally cause oil company profits to drop. CEO Joe Gorder said, “We saw significant improvement in refining margins in the third quarter as economic activity and mobility continued to recover in key markets.” Valero stock rose over a percent in early trading.

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