Jan 29 Valero Energy Corp on Wednesday
said its fourth-quarter profit rose, topping estimates, as the
largest independent U.S. refiner processed more crude and sold
its interest in its retail business, CST Brands Inc.
Profit in the quarter was $1.3 billion, or $2.38 per share,
compared with $1 billion, or $1.82 per share, in the same
quarter a year earlier.
Excluding items including a $325 million gain on CST, Valero
had a profit of $1.78 per share. Analysts on average had
expected a profit of $1.66 per share, according to Thomson
Last week, Valero said it expected its earnings excluding
items to top analysts' estimates as it processed more oil and
benefited from steeper discounts for some grades of crude.
Shares of Valero rose to $50.41 in premarket trade, up from
Tuesday's New York Stock Exchange close of $50.20.