UPDATE 1-Valero kicks off US refiners' earnings with quarterly profit beat

(Updates with details on the result) April 27 (Reuters) - Refiner Valero Energy Corp topped profit estimates on Thursday, as margins received a boost from sustained fuel demand and tight crude supplies. Refiners have been riding a wave of favorable pricing and demand as pandemic-era closings boosted margins.

Alternating periods of higher demand for products have also helped, with jet fuel recently sprinting higher as diesel fell off. San Antonio, Texas-based Valero said its refining margins for the January-March quarter climbed to $5.9 billion from $3.2 billion in year-ago quarter. The company reported adjusted net income of $8.27 per share for the three months ended March 31, compared with analysts' average estimate of $7.23 per share.

(Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra Eluri)

Reuters

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off-the-wire

UPDATE 1-Valero kicks off US refiners&apos; earnings with quarterly profit beat

By Reuters

Reuters

Reuters

UPDATE 1-Valero kicks off US refiners' earnings with quarterly profit beat