Valero Q3 Adjusted EPS of $23.90 Crushes Estimates as Refiner Posts Highest Quarterly Profit in Company History
U.S. refiner Valero Energy reported third-quarter results on October 22, with adjusted earnings per share of $23.90, far above the $21.07 consensus estimate compiled by LSEG, Reuters reported. The company's quarterly profit was the highest in its history, a record for the second consecutive quarter. Valero shares rose 2.6% in premarket trading after the release.
Valero's refining margin per barrel was $39.24, up from $13.14 a year earlier, and the refining segment's adjusted operating income rose to $8.8 billion from $1.7 billion. The benchmark 3-2-1 crack spread rose about 150% year on year. Chief Executive Lane Riggs commented on the results.
(Pictured: a Valero refinery in Texas, file photo.)
Published by GSM · USA (original Chinese edition)
Photo: Wikimedia Commons · Larry D. Moore · CC BY 4.0
