Valero Energy Provides First Quarter 2012 Interim Update
SAN ANTONIO, April 16, 2012 - Valero Energy Corporation (NYSE: VLO) announced today that the company expects to report a loss from continuing operations in the range of $0.75 to $0.85 per share for the first quarter of 2012. This estimate includes an asset impairment loss of $605 million after taxes, or $1.10 per share, predominately related to the Aruba Refinery. Excluding the non-cash asset impairment loss, the company expects to report income from continuing operations in the range of $0.25 to $0.35 per share for the first quarter of 2012.
As a reminder, the company will host a conference call on May 1, 2012 at 10:00 a.m. CT to discuss first quarter earnings results, which will be released earlier that day, and provide an update on company operations. Persons interested in listening to the presentation live via the internet may log on to Valero's web site at www.valero.com.
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 22,000 people, and assets include 16 petroleum refineries with a combined throughput capacity of approximately 3 million barrels per day, 10 ethanol plants with a combined production capacity of 1.2 billion gallons per year, and a 50-megawatt wind farm. Approximately 6,800 retail and branded wholesale outlets carry the Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio. Please visit www.valero.com for more information.
Investors: Ashley Smith, Vice President - Investor Relations, 210-345-2744
Media: Bill Day, Executive Director - Corporate Communications, 210-345-2928
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Valero Services Inc via Thomson Reuters ONE
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