Valero Energy Corp. Q4 Profit Decreases, but beats estimates

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

The company's bottom line totaled $1.20 billion, or $3.55 per share. This compares with $3.11 billion, or $8.15 per share, in last year's fourth quarter.

Excluding items, Valero Energy Corp. reported adjusted earnings of $1.20 billion or $3.55 per share for the period.

Analysts on average had expected the company to earn $2.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.2% to $35.41 billion from $41.75 billion last year.

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

-Earnings (Q4): $1.20 Bln. vs. $3.11 Bln. last year. -EPS (Q4): $3.55 vs. $8.15 last year. -Analyst Estimates: $2.95 -Revenue (Q4): $35.41 Bln vs. $41.75 Bln last year.