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- 09 Feb
Valero financial results: $0.208 fuel margins for Q4, $0.162 for the year
Valero announced in their 2012 end of year financial results that margins were up and volumes were steady.
Margins for the quarter were at $0.208 per gallon up from $0.139 in 2011. For the entire year, margins were up from $0.144 in 2011 to $0.162 in 2012.
Volumes per day per site for the quarter and for the year were relatively steady, down only 1.6% for the quarter, and up .004% for the year. According to the US Energy Information Administration, 2012 fuels demand was down .3%. That means Valero gained market share in 2012.
According to the report, Valero’s retail segment reported $95 million of operating income in the fourth quarter of 2012 versus $83 million of operating income in the fourth quarter of 2011. The increase in operating income was mainly due to higher fuel margins in the U.S., which was somewhat offset by lower fuel margins and a non-cash asset impairment loss of $9 million before taxes in Canada. For the full-year 2012, the retail segment generated $348 million of operating income, and those results were second only to the 2011 record-high results of $381 million.
We at the PriceAdvantage team would like to congratulate the Valero retail fuels group on their success in 2012. The fourth quarter of 2012 was the first full quarter when PriceAdvantage was in production at all the 1000+ Valero company stores.
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