Valero Energy Q4 Profit Beats Estimates

(RTTNews) - Valero Energy Corp. (VLO) reported fourth quarter adjusted net income to stockholders of $1.01 billion, or $2.47 per share, compared to an adjusted loss of $429 million, or $1.06 per share, prior year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $1.84, for the quarter. Analysts' estimates typically exclude special items.

Net income to stockholders was $1.01 billion, or $2.46 per share, compared to a net loss of $359 million, or $0.88 per share, a year ago.

Revenue increased to $35.90 billion from $16.60 billion, prior year. Analysts on average had estimated $27.3 billion in revenue.

"We saw continued improvement in our business during the fourth quarter with margins supported by strong product demand," said Joe Gorder, Valero CEO.

Valero ended 2021 with $13.9 billion of total debt and finance lease obligations and $4.1 billion of cash and cash equivalents.

Shares of Valero Energy were up 2% in pre-market trade on Thursday.