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03 noviembre 2006

Valero Energy 3Q Profit Surges

Valero Energy Corp., the nation's largest independent oil refiner, on Tuesday posted an 86 percent rise in its third-quarter profit on higher sales, a one-time gain and roughly flat expenses.

Pero el año pasado habían gastos extraordinarios y este año hay ingresos extraordinarios. "Excluding those items, earnings totaled $1.5 billion, or $2.42 per share, compared with $1.3 billion, or $2.19 per share, in the 2005 third quarter."

Aun así, hemos superado las expectativas - "Analysts polled by Thomson Financial forecast earnings of $2.30 per share, excluding one-time items."

The company also predicted a strong fourth quarter. "Tight supply demand balances and limited new refining capacity coming online," said Ann Kohler, an energy analyst with Caris & Company. Sin embargo, analysts expect earnings per share of $1.42 in the fourth quarter and $8.05 per share for the full year.