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MPC, VLO, ANDV, PSX: Refining Stocks’ Beats and Misses in Q1 2018

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Refining stocks’ beats and misses in Q1 2018

Refining stocks Marathon Petroleum (MPC), Andeavor (ANDV), Valero Energy (VLO), and Phillips 66 (PSX) recently posted their first-quarter earnings. In this article, we’ll review each of them.

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Marathon Petroleum’s Q1 2018 earnings miss estimate

Marathon Petroleum (MPC) posted its first-quarter results on April 30. The company posted revenues of $19.0 billion, which missed Wall Street analysts’ estimates. 

MPC’s reported earnings per share for the first quarter stood at $0.08. Adjusting its EPS for special items, MPC’s adjusted earnings per share stood at $0.04, missing the estimated EPS of $0.15. The company’s first-quarter EPS stood 33.0% lower than its year-over-year adjusted EPS.

Andeavor’s Q1 2018 earnings beat estimates

Andeavor (ANDV) posted its first-quarter results on May 7 after the market closed. ANDV reported revenues of $10.3 billion, which surpassed Wall Street analysts’ estimates. The company’s first-quarter adjusted earnings per share stood at $0.65, compared to its estimated EPS of $0.58, surpassing the consensus estimates. ANDV’s first-quarter adjusted EPS stood 18.0% higher year-over-year.

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Valero’s Q1 2018 earnings surpass estimates

Valero Energy (VLO) posted its first-quarter results on April 26. In the first quarter, VLO’s revenues surpassed Wall Street analysts’ consensus estimate by ~16.0%. VLO reported EPS of $1.09. 

Adjusting for special items, Valero’s adjusted EPS stood at $1.00, about 7.0% higher than its estimated EPS of $0.90. VLO’s first-quarter adjusted EPS was also 47.0% higher year-over-year. VLO’s refining margins also rose year-over-year in the first quarter.

Phillips 66’s Q1 2018 earnings exceed estimates

Phillips 66 (PSX) posted its first-quarter results on April 27. In the first quarter, PSX’s revenues stood at ~$24.0 billion, about 1.0% higher year-over-year. PSX’s first-quarter adjusted earnings per share stood at $1.0, which surpassed the Wall Street analyst estimate of $0.90. 

PSX’s refining margins rose year-over-year in the first quarter. The company’s first-quarter EPS stood a whopping 86.0% higher year-over-year.

In the next part, we’ll review additional details of these earnings.

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