Valero is turning into a cash machine, as it can thrive in almost any market environment.
Valero posted strong fourth-quarter results as it benefited from higher product margins and wider crude spreads that persisted in the wake of summer hurricane activity. Adjusted net income, excluding a benefit of $1.9 billion from tax reform, increased to $509 million from $367 million a year ago. The refining segment was largely responsible for the improvement, with operating income rising to $982 million from $645 million last year on the improved market conditions and higher throughput. Ethan...Valero Energy is an international manufacturer and marketer of transportation fuels and petrochemical products. The company's segments include: Refining, which includes its refining operations, the associated marketing activities, and logistics assets that support its refining operations; Ethanol, which includes its ethanol operations, the associated marketing activities, and logistics assets that support its ethanol operations; and Renewable Diesel, which includes the operations of its joint ventture, Diamond Green Diesel Holdings LLC, which owns and operates a renewable diesel plant in Norco, LA.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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