24/7 Wall St.
04-29-2008, 10:10 AM
24/7 Wall St. Daily News
Valero Energy Corp. (NYSE:VLO) has reported 2008 first quarter income of $261 million, or $0.48 EPS, compared with income of $1.1 billion and $1.77 EPS for the first quarter of 2007. After VLO's March 24th earnings warning, analyst estimates had dropped to $0.29 EPS. Operating revenue for the quarter totaled $27.95 billion, well above estimates of $18.23 billion. Valero attributed the drop to lower margins for refined products due to higher feedstock costs coupled with lower prices. According to the announcement, the cost for a barrel of WTI rose about $40/barrel, while the wholesale price of gasoline rose by only...http://feeds.feedburner.com/~f/typepad/RyNm?i=ApTj5G</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=ApTj5G) http://feeds.feedburner.com/~f/typepad/RyNm?i=pdEeLG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=pdEeLG) http://feeds.feedburner.com/~f/typepad/RyNm?i=6Qe5Dg</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=6Qe5Dg)
complete story here... (http://www.247wallst.com/2008/04/valero-jumps-ov.html)
Valero Energy Corp. (NYSE:VLO) has reported 2008 first quarter income of $261 million, or $0.48 EPS, compared with income of $1.1 billion and $1.77 EPS for the first quarter of 2007. After VLO's March 24th earnings warning, analyst estimates had dropped to $0.29 EPS. Operating revenue for the quarter totaled $27.95 billion, well above estimates of $18.23 billion. Valero attributed the drop to lower margins for refined products due to higher feedstock costs coupled with lower prices. According to the announcement, the cost for a barrel of WTI rose about $40/barrel, while the wholesale price of gasoline rose by only...http://feeds.feedburner.com/~f/typepad/RyNm?i=ApTj5G</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=ApTj5G) http://feeds.feedburner.com/~f/typepad/RyNm?i=pdEeLG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=pdEeLG) http://feeds.feedburner.com/~f/typepad/RyNm?i=6Qe5Dg</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=6Qe5Dg)
complete story here... (http://www.247wallst.com/2008/04/valero-jumps-ov.html)