Valero Energy Corp. (VLO) reported second-quarter net income from continuing operations attributable to stockholders of $1.4 billion, or $2.66 per share, compared to $651 million, or $1.22 per share, in the second quarter of 2014.
On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $2.42 for the quarter. Analysts' estimates typically exclude special items.
Operating revenues were $25.12 billion compared to $34.91 billion, a year ago. Analysts expected revenue of $19.91 billion for the quarter.
"After completing a heavy planned maintenance period in the prior quarter, our refineries were ready and available to respond to improving market conditions in the second quarter," said Joe Gorder, Valero Chairman, President and CEO. Valero said the company is on track to complete its goal of $1 billion of drop-down transactions to VLP in 2015.
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