SAN ANTONIO (AP) — SAN ANTONIO (AP) — Valero Energy Corp. (VLO) on Thursday reported a loss of $595 million in its first quarter.
The San Antonio-based company said it had a loss of $1.90 per share. Earnings, adjusted for one-time gains and costs, came to 89 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The oil refiner posted revenue of $30.26 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $28.45 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLO at https://www.zacks.com/ap/VLO
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