Contact Us

Valero’s 3Q Profit Falls 54 Percent On Margins

U.S. Gas Prices Rise 25 Cents In Three Weeks
Photo by Justin Sullivan/Getty Images

SAN ANTONIO (AP) — Valero Energy Corp. says its third-quarter profit fell 54 percent as the company was squeezed by thinner margins on gasoline and diesel and smaller discounts on certain types of crude oil that it refines.

San Antonio-based Valero on Tuesday reported refining income declined sharply, but Valero’s ethanol business posted an operating profit, reversing a year-ago loss.

Third-quarter net income was $312 million, or 57 cents per share, down from $674 million, or $1.21 per share, a year earlier. The 2012 results would have been $1.90 per share excluding charges for a write-down and severance expense related to a refinery in Aruba.

Revenue rose 4 percent to $36.14 billion.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More From Voice Of Amarillo

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://voiceofamarillo.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Talk 940 AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on News Talk 940 AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!