Valero Energy Corp. Earnings Decline 63% In Q2

(RTTNews) - Valero Energy Corp. (VLO) revealed a profit for second quarter that declined from last year.

The company said its profit totaled $0.50 billion, or $1.07 per share. This was lower than $1.35 billion, or $2.66 per share, in last year's second quarter.

Analysts had expected the company to earn $1.00 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 22.1% to $19.58 billion. This was down from $25.12 billion last year.

Valero Energy Corp. earnings at a glance:

-Earnings (Q2): $0.50 Bln. vs. $1.35 Bln. last year. -Earnings Decline (Y-o-Y): -63.0% -EPS (Q2): $1.07 vs. $2.66 last year. -EPS Decline (Y-o-Y): -59.8% -Analysts Estimate: $1.00 -Revenue (Q2): $19.58 Bln vs. $25.12 Bln last year. -Revenue Change (Y-o-Y): -22.1%