Valero Energy posts 3Q profit, results beat Wall Street forecasts

MarketsAssociated Press

SAN ANTONIO (AP) — Valero Energy Corp. (VLO) on Tuesday reported earnings of $1.06 billion in its third quarter.

The San Antonio-based company said it had profit of $2 per share.

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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The oil refiner posted revenue of $34.41 billion in the period, also beating Street forecasts. Analysts expected $31.8 billion, according to Zacks.

Valero Energy shares have decreased slightly since the beginning of the year, while the Standard & Poor's 500 index has increased 9 percent. The stock has climbed 23 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. VLO stock research report from Zacks.

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Keywords:Valero Energy,Earnings Report