Valero Energy beats by $0.25, beats on revs (66.04)
Reports Q2 (Jun) earnings of $2.66 per share, $0.25 better than the Capital IQ Consensus Estimate of $2.41; revenues fell 28.1% year/year to $25.12 bln vs the $20.69 bln consensus.
- The refining segment reported second quarter 2015 operating income of $2.2 billion versus $1.1 billion in the second quarter of 2014. The $1.1 billion increase in operating income primarily resulted from a $3.87 increase in throughput margin per barrel from $9.84 in the second quarter of 2014 to $13.71 in the second quarter of 2015, driven mainly by stronger gasoline and other product margins per barrel relative to Brent crude oil and lower natural gas costs.