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.
Keywords: Valero Energy, Earnings Report