Valero Energy Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Valero Energy Corp. (VLO) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $3.07 billion, or $8.29 per share. This compares with $0.91 billion, or $2.21 per share, in last year's first quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $3.06 billion or $8.27 per share for the period.

Analysts on average had expected the company to earn $7.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.4% to $36.44 billion from $38.54 billion last year.

Valero Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $3.07 Bln. vs. $0.91 Bln. last year. -EPS (Q1): $8.29 vs. $2.21 last year. -Analyst Estimate: $7.23 -Revenue (Q1): $36.44 Bln vs. $38.54 Bln last year.