Valero expects below consensus Q2 earnings, shares -2.2% AH

|About: Valero Energy Corporation (VLO)|By:, SA News Editor

Valero Energy (NYSE:VLO-2.2% AH after saying it expects to report below consensus Q2 EPS from continuing operations of $1.10-$1.25; analysts had forecast a consensus $1.37.

VLO sees refining operating income higher Y/Y due to higher throughput volumes as well as wider discounts on sour crude oil and certain types of North American light crude oil, offseting weaker Y/Y gasoline and distillate margins in most regions.

VLO also expects to report a $0.12/share loss from discontinued operations, related primarily to a non-cash charge associated with recognizing an asset retirement obligation for the Aruba refinery.