News Column

Tesoro Corp. 2Q profit falls 1.3 percent

July 30, 2014



SAN ANTONIO (AP) Tesoro Corp. (TSO) on Wednesday reported profit that declined by 1.3 percent in its second quarter, and missed analysts' expectations.

The San Antonio-based company said earnings fell to $224 million, or $1.70 per share, from $227 million, or $1.64 per share, in the same quarter a year ago. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.83.

The company said revenue climbed 25 percent to $11.1 billion from $8.9 billion in the same quarter a year ago.

Tesoro shares have increased 89 cents, or 1.5 percent, to $59.39 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.6 percent. The stock has risen $2.54, or 4.5 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full TSO report: http://www.zacks.com/ap/TSO

Keywords:Tesoro,Earnings Report


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Source: Associated Press


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