Valero Energy (VLO) Tops Q2 EPS by 16c, Beats on Revenues

Valero Energy (NYSE: VLO) reported Q2 EPS of $2.15, $0.16 better than the analyst estimate of $1.99. Revenue for the quarter came in at $31.05 billion versus the consensus estimate of $25.46 billion.

“We ran well while we completed refinery maintenance in the second quarter and delivered solid results,” said Joe Gorder, Valero Chairman, President and Chief Executive Officer. “We’re realizing the benefits of our prior investments in light crude processing and hydrocracking capacity.”

“We’re enjoying the benefits of lower crude costs and optionality at our Memphis refinery provided by the Diamond Pipeline,” said Gorder. “Our U.S. Mid-Continent refineries are also poised to capture additional margin opportunities from increased access to Permian Basin crude oils when the Sunrise Pipeline expansion starts up in early 2019.”

For earnings history and earnings-related data on Valero Energy (VLO) click here.

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