Tesoro Corporation Bottom Line Declines 29% In Q2

(RTTNews) - Tesoro Corporation (TSO) revealed a profit for second quarter that declined from last year.

The company said its bottom line declined to $418 million, or $3.47 per share. This was lower than $586 million, or $4.62 per share, in last year's second quarter.

Analysts had expected the company to earn $1.77 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 23.6% to $6.29 billion. This was down from $8.23 billion last year.

Tesoro Corporation earnings at a glance:

-Earnings (Q2): $418 Mln. vs. $586 Mln. last year. -Earnings Decline (Y-o-Y): -28.7% -EPS (Q2): $3.47 vs. $4.62 last year. -EPS Decline (Y-o-Y): -24.9% -Analysts Estimate: $1.77 -Revenue (Q2): $6.29 Bln vs. $8.23 Bln last year. -Revenue Change (Y-o-Y): -23.6%