Valero Energy Reports Strong Q4 Earnings, Exceeding Analyst Expectations
San Antonio, Texas - Valero Energy Corp. (VLO) announced its fourth-quarter financial results today, reporting a net profit of $281 million. This translates to earnings per share of 88 cents, or 64 cents per share when adjusted for non-recurring gains.
These results surpassed Wall Street's forecasts, with analysts surveyed by Zacks Investment Research predicting earnings of only 13 cents per share. Valero also exceeded revenue estimates, reporting $30.76 billion in the quarter compared to analysts' expectations of $30.73 billion.
For the full year, the oil refiner posted a profit of $2.77 billion, or $8.58 per share, on revenue of $129.88 billion.
Valero's strong performance is attributed to favorable refining margins and increased refining volumes. The company is well-positioned to benefit from the ongoing global economic recovery and rising demand for petroleum products.