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Valero Energy's quarterly profit slumps 38.4 pct
April 25, 2017 / 11:01 AM / 7 months ago

Valero Energy's quarterly profit slumps 38.4 pct

April 25 (Reuters) - Valero Energy Corp, the largest U.S. oil refiner, reported a 38.4 percent fall in quarterly profit, hurt by weak margins in its core refining business.

The company said on Tuesday that its net income attributable to shareholders fell to $305 million, or 68 cents per share, in the first quarter ended March 31, from $495 million, or $1.05 per share, a year earlier.

Operating revenue rose 38.6 percent to $21.77 billion. (Reporting by Muvija M in Bengaluru; Editing by Maju Samuel)

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