Valero kicks off refiner results with record quarterly profit on higher margins

By Reuters News

Oct 22 (Reuters) - Refiner Valero Energy VLO.N posted its highest-ever quarterly profit on Thursday, beating Wall Street expectations, as disruptions caused by the Middle East conflict sent refining margins soaring during the third quarter.

The San Antonio, Texas-based company kicked off the earnings season for refiners with an adjusted profit of $23.90 per share, marking its second straight quarter of record profit. Analysts were expecting Valero to report a profit of $21.07 per share, according to data compiled by LSEG.

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