SAN ANTONIO — Valero Energy Corp. (VLO) on Thursday reported second-quarter net income of $548 million.

The San Antonio-based company said it had profit of $1.23 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The oil refiner posted revenue of $22.25 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $21.53 billion.

Valero Energy shares have dropped slightly since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has climbed 29 percent in the last 12 months.

_____

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 https://www.zacks.com/ap/VLO

_____

Keywords: Valero Energy, Earnings Report

Author photo
The AP is one of the largest and most trusted sources of independent newsgathering. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.