SAN ANTONIO (AP) — Valero Energy Corp. has reported a second-quarter profit of $814 million.
The San Antonio-based company on Tuesday said it had profit of $1.73 per share. Earnings, adjusted for one-time gains and costs, were $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The oil refiner posted revenue of $19.58 billion in the period.
Valero Energy shares have fallen 29 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has fallen 23 percent in the last 12 months.