San Antonio-based Valero Energy tops Street 4Q forecasts

SAN ANTONIO (AP) — Valero Energy Corp. has reported fourth-quarter earnings of $298 million.

The San Antonio-based company said Thursday that had a profit of 62 cents per share. Earnings, adjusted for one-time gains and costs, were $1.79 per share.

The results exceeded Wall Street expectations.

The oil refiner posted revenue of $18.78 billion in the period, also exceeding Street forecasts.

Valero Energy shares have declined roughly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased roughly 8 percent. The stock has climbed 29 percent in the last 12 months.

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