#RefiningMargins

@profittradingusa.bsky.social

6 months ago

Australia’s Ampol posts lower HY profit on weak refining margins Investing.com-- Australia’s Ampol Ltd (ASX:ALD) reported a 23% drop in half-year underlying profit on Monday, weighed by weaker refining margins and international fuel earnings. Ampol’s underlying net profit after tax, excluding significant items, fell to A$180.2 million for the six months to June 30 from A$233.7 million a year earlier. Statutory results swung to a A$25.3 million net loss from a A$235.2 million profit a year ago, reflecting losses on divestments and inventory impacts, the company said. Group’s replacement cost operating profit (RCOP) fell 20% to A$404 million, with earnings from Lytton refinery plunging 99%. Convenience retail was a bright spot, with EBIT up 4% to A$183 million, while New Zealand earnings were steady. The company declared an interim dividend of 40 Australian cents per share. Ampol said the proposed A$1.1 billion acquisition of EG Australia would strengthen its retail footprint. Shares of the company jumped last week after it announced the EG Australia acquisition. They were largely unchanged at A$29.16 on Monday. ProPicks AI are 6 model portfolios created by Investing.com which identify the best stocks for investors to buy now. The stocks that made the cut could produce monster returns in the coming years. Is ALD one of them?

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Profit Trading USA

@profittradingusa.bsky.social

7 months ago

HF Sinclair beats second-quarter profit estimates on higher refining margins (Reuters) -Refiner HF Sinclair beat Wall Street estimates for second-quarter profit on Thursday, helped by higher refining margins. Top U.S. refiners were expected to post higher second-quarter profits, rebounding from first-quarter losses as stronger-than-expected diesel margins lifted earnings. The improved margins helped peers such as Valero Energy (NYSE:VLO) surpass Wall Street estimates. Fuel makers have seen an unexpected boost in profits from key products in recent months, offering relief after earnings retreated from 2022 highs driven by a post-pandemic demand rebound and supply disruptions following Russia’s invasion of Ukraine. The company reported adjusted profit of $1.70 per share for the three months ended June 30, compared with analysts’ average estimate of $1.02 per share, according to data compiled by LSEG. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if VLO is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

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Profit Trading USA

@profittradingusa.bsky.social

7 months ago

Phillips 66 beats second-quarter profit estimates on higher refining margins (Reuters) -Refiner Phillips 66 (NYSE:PSX) beat Wall Street estimates for second-quarter profit on Friday, helped by higher refining margins and lower turnaround expenses. Top U.S. refiners were expected to post higher second-quarter profit, rebounding from losses in the prior quarter as stronger-than-expected diesel margins lifted earnings. The improved margins helped peers such as Valero Energy (NYSE:VLO) surpass Wall Street estimates. Fuelmakers have seen an unexpected boost in profit from key products in recent months, offering relief after earnings retreated from 2022 highs, driven by a post-pandemic demand rebound and supply disruptions following Russia’s invasion of Ukraine. The company’s realized margin per barrel was up at $11.25 in the quarter, compared with $10.01 from a year earlier, while turnaround expenses were down at $53 million from $100 million. The company reported an adjusted profit of $2.38 per share for the three months ended June 30, compared with analysts’ average estimate of $1.71, according to data compiled by LSEG.

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Profit Trading USA

@profittradingusa.bsky.social

7 months ago

Valero Energy beats Q2 profit estimates as refining margins improve (Reuters) -Refiner Valero Energy (NYSE:VLO) beat Wall Street estimates for second-quarter profit on Thursday as a rebound in refining margins helped cushion the loss in its renewable diesel unit. Investors were expecting top U.S. refiners to report higher second-quarter profits, bouncing back from losses during the first three months of the year as unseasonably strong diesel margins boosted earnings. Valero, the first major refiner to post results this earnings season, said its refining margin per barrel of throughput was up at $12.35 in the reported quarter, compared with $11.14 from a year earlier. "We set a record for refining throughput rate in our U.S. Gulf Coast region in the second quarter," said CEO Lane Riggs. The company’s total throughput volumes stood at 2.9 million barrels per day (bpd) in the quarter, compared with 3.0 million bpd a year earlier. The refining segment reported quarterly operating income of $1.3 billion, higher than last year’s $1.2 billion. However, its renewable diesel segment, consisting of the Diamond Green Diesel joint venture, reported an operating loss of $79 million for the quarter, compared with a profit of $112 million a year ago. The company also said it was progressing with a fluid catalytic cracking unit optimization project that will enable the St. Charles Refinery to increase its high-value product yield. Valero reported a profit of $2.28 per share for the quarter ended June 30, compared with analysts’ average estimate of $1.74 per share, according to data compiled by LSEG. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is VLO one of them?

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Profit Trading USA

@profittradingusa.bsky.social

10 months ago

Canada’s Imperial Oil posts rise in quarterly profit on stronger refining margins Blog Mobile Portfolio Widgets About Us Advertise Help & Support Authors Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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Profit Trading USA

@profittradingusa.bsky.social

10 months ago

Valero Energy reports first-quarter loss on lower margins, impairment charges (Reuters) -Valero Energy reported a first-quarter loss compared with a year-ago profit on Thursday, weighed down by lower refining margins and around $1 billion in impairment charges related to its West Coast assets. Shares of the company declined 1.6% to $112.62 in early trade. Excluding asset impairment loss, the second-largest U.S. refiner by capacity posted an adjusted profit of 89 cents per share, beating tempered expectations of 42 cents per share, according to data compiled by LSEG. CEO Lane Riggs said the quarter was marked by heavy maintenance across the refining system and a "challenging margin environment" in the renewable diesel segment. U.S. refineries typically undergo turnaround activity in the first quarter to prepare for higher summer demand, but this seasonal maintenance temporarily limits utilization and revenue. Valero’s renewable diesel segment, operated through the Diamond Green Diesel joint venture, posted an operating loss of $141 million, a reversal from the $190 million in operating income reported a year earlier. The core refining business also saw a downturn, with an operating loss of $530 million compared with $1.7 billion in profit in the prior year. Valero is the first major refiner to report results this earnings season. The results come as the industry braces for a fallout from the ongoing U.S.-China trade tensions, which could dampen demand for refined products such as gasoline, diesel, and jet fuel and hit already struggling refining margins. U.S. refining margins, as measured by the 3-2-1 crack spread, bounced back in early 2025 after hitting multi-year lows last year, but continue to face pressure from lingering market challenges. The company’s net loss attributable to stockholders was $595 million, or $1.90 per share, in the three months ended March 31, compared with last year’s profit of $1.2 billion, or $3.75 per share.

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EnergiesNet former PetroleumWorld

@energiesnet.bsky.social

1 year ago

Citgo’s 2024 Net Income Drops to $305M Amid Market Woes ow.ly/EYWV50Vcvwl #Citgo #OilIndustry #EnergyNews #MarketChallenges #RefiningMargins #ProfitDecline #2024Financials #VenezuelaEconomy #OilRefineries #EconomicImpact

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Wiobs

@wiobs.bsky.social

1 year ago

Oil Prices Hold Steady Amid Russia-Ukraine Peace Talks and Market Uncertainty - WIOBS Oil prices remain stable as investors watch Russia-Ukraine peace talks, potential sanctions relief, and global economic trends....

Oil Prices Hold Steady Amid Russia-Ukraine Peace Talks and Market Uncertainty
wiobs.com/oil-prices-h...
#oilprices #RussiaUkrainetalks #sanctionsrelief #Brentcrude #WTIcrude #globaltrade #OPEC+ #refiningmargins #EnergyMarkets

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Posts tagged #RefiningMargins