Valero Energy Corp. Profit Retreats 59% In Q3

(RTTNews) - Valero Energy Corp. (VLO) revealed earnings for third quarter that lost ground compared to the same period last year.

The company said its bottom line came in at $0.57 billion, or $1.24 per share. This was down from $1.38 billion, or $2.79 per share, in last year's third quarter.

Analysts had expected the company to earn $0.93 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 13.0% to $19.65 billion. This was down from $22.58 billion last year.

Valero Energy Corp. earnings at a glance:

-Earnings (Q3): $0.57 Bln. vs. $1.38 Bln. last year. -Earnings Decline (Y-o-Y): -58.7% -EPS (Q3): $1.24 vs. $2.79 last year. -EPS Decline (Y-o-Y): -55.6% -Analysts Estimate: $0.93 -Revenue (Q3): $19.65 Bln vs. $22.58 Bln last year. -Revenue Change (Y-o-Y): -13.0%