Valero Energy Corp. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Valero Energy Corp. (VLO) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $364 million, or $1.14 per share. This compares with $2.622 billion, or $7.49 per share, in last year's third quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $364 million or $1.14 per share for the period.

Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.4% to $32.876 billion from $38.404 billion last year.

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

-Earnings (Q3): $364 Mln. vs. $2.622 Bln. last year. -EPS (Q3): $1.14 vs. $7.49 last year. -Revenue (Q3): $32.876 Bln vs. $38.404 Bln last year.