Valero Energy Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Valero Energy Corp. (VLO) released a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.944 billion, or $5.40 per share. This compares with $4.693 billion, or $11.57 per share, in last year's second quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $1.944 billion or $5.40 per share for the period.

Analysts on average had expected the company to earn $5.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 33.2% to $34.509 billion from $51.641 billion last year.

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

-Earnings (Q2): $1.944 Bln. vs. $4.693 Bln. last year. -EPS (Q2): $5.40 vs. $11.57 last year. -Analyst Estimates: $5.08 -Revenue (Q2): $34.509 Bln vs. $51.641 Bln last year.