Valero Energy CorporationVLO is the largest independent refiner and marketer of petroleum products in the U.S. It has a refining capacity of 3.0 million barrels per day across 15 refineries located throughout the U.S., Canada and the Caribbean. Valero is also a leading ethanol producer with 11 ethanol plants in the Midwest that have a combined capacity of 1.4 billion gallons per year.
The company is one of the major independent retailers of refined petroleum products in central and southwestern U.S. and in eastern Canada, with about 7,500 retail outlets under various brand names, including Diamond Shamrock, Shamrock and Beacon.
Currently, Valero has a Zacks Rank #3 (Hold) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today's Zacks #1 Rank stocks here .
We have highlighted some of the key details from the just-released announcement below:
Earnings: Valero beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $1.24, above the Zacks Consensus Estimate of 91 cents.
Revenue: Revenues of $19,649 million surpassed the Zacks Consensus Estimate of $16,497 million.
Key Stats: During the quarter, refining throughput volumes were 2.9 million barrels per day almost in line with the year-earlier level.
By feedstock composition, sweet crude, medium/light sour crude and heavy sour crude accounted for 43%, 18% and 14%, respectively. The remaining volumes came from residuals, other feedstock as well as blendstocks and others.
Company-wide throughput margins decreased to $9.07 per barrel from the year-ago level of $14.38 per barrel.
Check back later for our full write up on this Valero earnings report later!
VALERO ENERGY Price and EPS Surprise
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