Valero Q1 Earnings Exceed Forecasts As Refining Margins Jump    ...Middle East

Valero Energy (NYSE: VLO) beat analyst expectations as it reported on Thursday that first-quarter earnings more than tripled from a year ago as refining margins remained strong and the cost of crude dropped. Valero on Thursday reported an adjusted net income of $3.1 billion, or $8.27 per share, for the first quarter of 2023, compared to $944 million, or $2.31 per share, for the first quarter of 2022.   The EPS for the first quarter beat the analyst consensus estimate of $7.23 per-share profit compiled by The Wall Street Journal.…

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