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- 30 Apr
Valero financial results: another strong quarter
Today Valero announced financial results for Q1 of this year, and it exceeded Wall Street expectations. From a fuel price management perspective, we’ll focus here on the retail division, now known as the company CST Brands.
The US Division of CST Brands had an operating income increase from $11 million in the first quarter of 2012 to $18 million in the first quarter of 2013, mainly due to higher fuel margins. Fuel margins per gallon increased from $.05 per gallon in 2012 to $0.08 per gallon in 2013. The gallons per day per site measurement held steady year over year, up slightly from 5,046 gallons per day per site in 2012 to 5,048 gallons per day per site in 2013.
The US Division of CST Brands has been using PriceAdvantage as their fuel price management system for all their retail stores since the fall of 2012. The average number of company-operated fuel sites for the quarter was 1033.
The Canadian division of CST Brands does not use PriceAdvantage as their fuel price management system. Fuel margins in Canada were the same year over year at $0.26 per gallon, but the total fuel volumes were down from 3.097 million gallons per day in 2012 to 2.987 gallons per day in 2013.
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