January 31, 2019 / 11:43 AM / 22 days ago

Valero Energy adjusted profit rises on higher margins

Jan 31 (Reuters) - Independent U.S. refiner Valero Energy Corp reported a 77 percent rise in quarterly adjusted income on Thursday, boosted by higher refining margins.

On an adjusted basis, income attributable to Valero shareholders rose to $900 million, or $2.12 per share, in the fourth quarter ended Dec. 31, from $509 million, or $1.16 per share, a year earlier.

In the year-ago quarter, the company recorded a $1.9 billion gain on the U.S. tax reforms.

San Antonio, Texas-based Valero said refining margins rose 26 percent to $3.05 billion in the last three months of 2018. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below