WASHINGTON (dpa-AFX) - Valero Energy Corp. (VLO), on Thursday reported net income increased in the fourth quarter despite a decrease in revenue compared with the previous year.
For the fourth quarter, net income attributable to the company stockholders increased to $1.13 billion form $281 million in the prior year.
Earnings per share were $3.73 versus $0.89 last year.
Adjusted net income attributable to the company increased to $1.16 billion from $207 million in the previous year.
Adjusted earnings per share were $3.82 versus 0.64 last year.
On average, eighteen analysts had expected the company to report $3.27 per share. Analysts' estimates typically exclude special items.
Operating income $1.58 billion from $348 million in the previous year.
Revenue decreased to $30.37 billion from $30.76 billion in the prior year.
In the pre-market trading, Valero Energy is 1.94% higher at $187.50 on the New York Stock Exchange.
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