An Earnings Beat: Valero Energy Corporation (VLO) reported fourth quarter income per share of $1.16, higher than the Zacks Consensus Estimate of $1.05. Higher throughput margin owing to 92% throughput capacity utilization supported Valero Energy’s strong fourth-quarter results.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate has seen one upward revision and six downward revisions in the last thirty days.
Nonetheless, Valero has an impressive earnings surprise history. Before posting the earnings beat in Q4, the company delivered positive surprises in all prior four quarters. Overall, the company has a positive earnings surprise of 10.26% in the trailing four quarters.
Valero Energy Corporation Price and EPS Surprise
Valero Energy Corporation Price and EPS Surprise | Valero Energy Corporation Quote
Revenues: Valero posted revenues of $26,392 million, beating the Zacks Consensus Estimate of $22,518 million. Also, it compared favorably with the year-ago number of $20,712 million.
Key Stats: During the quarter, refining throughput volumes were nearly 3 million barrels per day, up from 2.85 million barrels per day in the year-earlier quarter.
By feedstock composition, sweet crude, medium/light sour crude and heavy sour crude accounted for 46.3%, 14.9% and 15.4%, respectively. The remaining volumes came from residuals, other feedstock as well as blendstocks and others.
Refining margin per barrel of throughput increased to $8.75 per barrel from the year-ago level of $7.82 per barrel.
Zacks Rank: Currently, Valero carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank stocks here)
Check back later for our full write up on this Valero earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment