Q1 ETHANOL RALLY BOOSTS VALERO'S EARNINGS

摘要

Valero Energy's ethanol division achieved record first quarter operating income despite production slowdowns caused by weather-related challenges in transporting ethanol by rail, the company said. Ethanol operating income in Jan/Mar 2014 was $243 mln compared to $14 mln in the first quarter of 2013. The increase in operating income was due to higher gross margin per gallon driven by the weather-related supply disruptions as well as lower industry inventories, import volumes, and corn costs relative to the first quarter of 2013.