Repost from MySA, San Antonio, TX
Valero logs record high first quarterBy Vicki Vaughan : April 28, 2015
Valero Energy Corp. on Tuesday reported a record high first quarter based on strong performance from its refining segment.
Valero’s net income from continuing operations rose 16 percent, to $964 million, or $1.87 a share, compared to $829 million, or $1.54 a share, for the same period a year ago.
The results handily beat analysts’ estimates that the San Antonio-based refiner would earn $1.72 a share.
“Our team’s solid performance and favorable margins helped us deliver impressive results during a heavy planned-maintenance period in the first quarter,” CEO Joe Gorder said in a statement.
Valero’s refineries processed more crude oil in the quarter, handling 2.7 million barrels a day, an increase of 9,000 barrels a day in the first quarter of 2014.