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



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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