Valero Energy (VLO) reported Q1 adjusted earnings Thursday of $0.89 per diluted share, down from $3.84 a year earlier.

Analysts polled by FactSet expected $0.41.

Revenue for the quarter ended March 31 was $30.26 billion, down from $31.76 billion a year earlier.

Analysts surveyed by FactSet expected $28.76 billion.

Shares of Valero Energy were down over 3% in recent premarket activity.

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