WASHINGTON (dpa-AFX) - Valero Energy Corp. (VLO) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $281 million, or $0.88 per share. This compares with $1.202 billion, or $3.55 per share, last year.
Excluding items, Valero Energy Corp. reported adjusted earnings of $207 million or $0.64 per share for the period.
Analysts on average had expected the company to earn $0.06 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 13.2% to $30.756 billion from $35.414 billion last year.
Valero Energy Corp. earnings at a glance (GAAP) :
-Earnings: $281 Mln. vs. $1.202 Bln. last year. -EPS: $0.88 vs. $3.55 last year. -Revenue: $30.756 Bln vs. $35.414 Bln last year.
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