Valero Energy Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Valero Energy Corp. (VLO) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.25 billion, or $3.75 per share. This compares with $3.07 billion, or $8.29 per share, in last year's first quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $1.27 billion or $3.82 per share for the period.

Analysts on average had expected the company to earn $3.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.8% to $31.76 billion from $36.44 billion last year.

Valero Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.25 Bln. vs. $3.07 Bln. last year. -EPS (Q1): $3.75 vs. $8.29 last year. -Revenue (Q1): $31.76 Bln vs. $36.44 Bln last year.