Valero Energy (VLO) Tops Q1 EPS by 5c, Revenues Beat

Valero Energy (NYSE: VLO) reported Q1 EPS of $0.34, $0.05 better than the analyst estimate of $0.29. Revenue for the quarter came in at $24.26 billion versus the consensus estimate of $21.54 billion.

“Investments to increase our system’s flexibility and the team’s relentless focus on safety enabled us to capture good margins in an otherwise weak margin environment,” said Joe Gorder, Valero Chairman, President and Chief Executive Officer. “The ability to achieve positive earnings and operating cash flow in a low margin environment is a testament to the earnings capability of our assets across margin cycles.”

“As we look beyond the first quarter, we are encouraged by improving product fundamentals with gasoline and distillate inventories below 5-year averages and continued global economic growth, which should support healthy product demand,” Gorder said.

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

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