Valero Energy Corp. Q2 Profit Decreases, But Beats Estimates

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

The company's bottom line totaled $880 million, or $2.71 per share. This compares with $1.944 billion, or $5.40 per share, in last year's second quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $880 million or $2.71 per share for the period.

Analysts on average had expected the company to earn $2.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.1% to $34.490 billion from $34.509 billion last year.

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

-Earnings (Q2): $880 Mln. vs. $1.944 Bln. last year. -EPS (Q2): $2.71 vs. $5.40 last year. -Revenue (Q2): $34.490 Bln vs. $34.509 Bln last year.