Valero Energy Corporation Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended of December 31, 2016; Provides Earnings Guidance for the Full Year of 2017
For the year ended December 31, 2016, the company's net income attributable to the company stockholders was $2.3 billion, or $4.94 per share, compared to $4.0 billion, or $7.99 per share, for 2015. Adjusted net income attributable to the company stockholders was $1.7 billion, or $3.72 per share, for 2016 compared to $4.6 billion, or $9.24 per share, for 2015. Operating revenues were $75,659,000 compared to $87,804,000 a year ago. Operating income was $3,572 million compared to $6,358 million a year ago. Income before income tax expense was $3,182 million compared to $5,971 million a year ago. Adjusted net income attributable to the company stockholders was $1,724 million, or $3.72 per share compared to $4,614 million or $9.24 per diluted share a year ago. Capital investments totaled $2.0 billion, consisting of $1.4 billion for sustaining the business and $600 million for growth projects.
For the full year of 2017, the company expects capital investments to be about $2.7 billion, of which $1.1 billion is for growth and $1.6 billion is for sustaining projects.