Valero Energy rises on Q2 profit beat
VLO•Stock performance
As of the last close, VLO was up 85.1% year to date.
Shares rise after quarterly profit beat
Shares of refiner Valero Energy VLO.N were up 3% to $310 in premarket trading after the company beat second-quarter profit estimates, helped by higher refining margins as tensions in the Middle East increased demand for U.S. fuel exports.
The company posted adjusted profit of $12.54 per share versus estimates of $10.12 per share, according to data compiled by LSEG.
Refining segment earnings and margins jump
Valero's refining segment reported adjusted operating earnings of $4.4 billion, compared with $1.27 billion a year earlier.
Its refining margin per barrel of throughput was $23.62 in the quarter, compared with $12.35 a year earlier.
