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Valero Energy Shares Slide as Company Cuts Outlook
Topics:Stock Market | Energy | Commodities
Sectors:Industrial Goods and Services | Oil and Gas
Companies:Valero Energy Corp
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U.S. refiner Valero Energy
Its shares were down [VLO Loading... ()] about 3 percent Tuesday.
The company expects net income for the quarter to be in the range of 10 cents to 35 cents a share. It earned $1.86 a share in the year ago period.
Valero said margins would be significantly lower than in 2007 for gasoline, petroleum coke, residual fuel oil and petrochemicals.
It said unplanned outages at its facilities, especially its Port Arthur, Aruba and Delaware City refineries, would reduce throughput margins by about $400 million.
Copyright 2008 Reuters. Click for restrictions.
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