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Valero reports quarterly profit that tops Street
April 30, 2013 / 12:56 PM / 4 years ago

Valero reports quarterly profit that tops Street

(Reuters) - Valero Energy Corp (VLO.N) on Tuesday reported a first-quarter profit that topped analyst expectations, helped by higher margins for diesel and jet fuel.

Valero also said it would evaluate the creation of a master limited partnership (MLP) for its logistics assets following the spinoff of its retail business.

Valero, based in San Antonio, had a profit of $654 million, or $1.18 per share, compared with a loss of $432 million, or 78 cents a year before, when the company took a charge related to its plant in Aruba.

Analysts on average had expected a profit of $1.00 per share, according to Thomson Reuters I/B/E/S.

Shares of Valero rose 3 percent in premarket trading.

Reporting by Anna Driver; Editing by Gerald E. McCormick

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