Valero Energy Corp. Q4 Profit Increases, beats estimates

(RTTNews) - Valero Energy Corp. (VLO) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $3.11 billion, or $8.15 per share. This compares with $1.01 billion, or $2.46 per share, in last year's fourth quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $3.23 billion or $8.45 per share for the period.

Analysts on average had expected the company to earn $7.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.3% to $41.75 billion from $35.90 billion last year.

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

-Earnings (Q4): $3.11 Bln. vs. $1.01 Bln. last year. -EPS (Q4): $8.15 vs. $2.46 last year. -Analyst Estimate: $7.37 -Revenue (Q4): $41.75 Bln vs. $35.90 Bln last year.