SAN ANTONIO (AP) — SAN ANTONIO (AP) — Valero Energy Corp. (VLO) on Thursday reported first-quarter net income of $1.25 billion.
On a per-share basis, the San Antonio-based company said it had net income of $3.75. Earnings, adjusted for non-recurring costs, were $3.82 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.18 per share.
The oil refiner posted revenue of $31.76 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $32.83 billion.
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