Valero Energy Corporation Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Capital Expenditure Guidance for the Year 2014; Announces Production Results for the Fourth Quarter of 2013
For the full year 2013, operating revenue was $138,074 million compared to $139,250 million a year ago. Operating income was $3,963 million compared to $4,010 million a year ago. Income before income tax expense was $3,982 million compared to $3,706 million a year ago. Net income attributable to the shareholders was $2,720 million or $4.97 per diluted share compared to $2,083 million or $3.75 per diluted share a year ago. Capital expenditures, including turnarounds and catalyst, were $2.76 billion. Excluding items, net income attributable to company was $2.4 billion, or $4.42 per share.
The company expects 2014 capital expenditures, including turnarounds and catalyst, to be approximately $3 billion.
For the fourth quarter 2013 the company's refining throughput volumes averaged 2.8 million barrels per day, an increase of 139,000 barrels per day from the fourth quarter of 2012.