SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported fourth-quarter earnings of $1.06 billion.
The San Antonio-based company said it had profit of $2.58 per share. Earnings, adjusted for non-recurring gains, came to $2.13 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The oil refiner posted revenue of $27.88 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $27.59 billion.
For the year, the company reported profit of $2.42 billion, or $5.84 per share. Revenue was reported as $108.32 billion.
Valero Energy shares have fallen nearly 8% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 1%. The stock has increased nearly 7% 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
Automated Insights, source Associated Press News