Valero Energy Earnings Up In Q4

(RTTNews) - Valero Energy Corp. (VLO), on Thursday reported net income increased in the fourth quarter despite a decrease in revenue compared with the previous year.

For the fourth quarter, net income attributable to the company stockholders increased to $1.13 billion form $281 million in the prior year.

Earnings per share were $3.73 versus $0.89 last year.

Adjusted net income attributable to the company increased to $1.16 billion from $207 million in the previous year.

Adjusted earnings per share were $3.82 versus 0.64 last year.

On average, eighteen analysts had expected the company to report $3.27 per share. Analysts' estimates typically exclude special items.

Operating income $1.58 billion from $348 million in the previous year.

Revenue decreased to $30.37 billion from $30.76 billion in the prior year.

In the pre-market trading, Valero Energy is 1.94% higher at $187.50 on the New York Stock Exchange.