Valero second-quarter profit beats expectations as demand for gasoline rises

San Antonio-based Valero Energy Corp. reported a $1.3 billion profit in its second quarter on Thursday, while the company’s adjusted net loss beat analysts’ predictions.

Valero (NYSE: VLO) made $10 billion in revenue over the quarter, more than a third of what it earned over the same period last year. Still, falling income didn’t prevent the company from recording a net income of $1.3 billion, or $3.07 per share, compared to $612 million, or $1.47 per share, in second quarter 2019.

The profit is…


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