Valero Energy Corporation announced unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net income attributable to stockholders of $1.3 billion, or $2.38 per share compared to net income attributable to stockholders of $1.0 billion, or $1.82 per share, for the fourth quarter of 2012. Operating income was $1.6 billion versus $1.6 billion in the fourth quarter of 2012. Year-over-year decreases in operating income in the refining segment and the spun-off retail segment were mostly offset by an increase in operating income in the ethanol segment. Operating revenue was $34,429 million compared to $34,695 million a year ago. Income before income tax expense was $1,802 million compared to $1,524 million a year ago. Capital expenditures were $538 million, of which $107 million was for turnarounds and catalyst. Excluding items, net income attributable to company stockholders was $963 million, or $1.78 per share.

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.