Valero Energy Corp. recently announced its fourth quarter earnings, which, while lower than last year, surpassed Wall Street expectations. The company's net income counted $1.20 billion, equating to $3.55 per share. This is a drop compared to last year's fourth quarter when it came in at $3.11 billion, or $8.15 per share.
When factoring out one-time items, the adjusted earnings of Valero Energy Corp. were reported as $1.20 billion or $3.55 per share during this period. Industry analysts had predicted a lower figure of $2.95 per share, according to compiled data by Thomson Reuters. It should be noted that these estimates typically exclude extraordinary items.
In terms of revenue, the company experienced a dip of 15.2% in the fourth quarter, slipping to $35.41 billion from the $41.75 billion recorded during the same period last year.
Looking at Valero Energy Corp.'s earnings at a glance (based on GAAP):
- Quarter 4 earnings equaled $1.20 billion, a decrease from last year's figure of $3.11 billion.
- EPS for Quarter 4 came to $3.55, which is a drop from $8.15 last year.
- Analysts had predicted an EPS of $2.95.
- Quarter 4 revenue was $35.41 billion, less than the $41.75 billion seen the previous year.
