July 30, 2020 / 10:41 AM / 15 days ago

Valero Energy reports quarterly adjusted loss

July 30 (Reuters) - Independent U.S. refiner Valero Energy Corp on Thursday reported an adjusted second-quarter loss compared to a year ago profit as stringent COVID-19 lockdown measures dented demand for its products.

The San Antonio, Texas-based company reported adjusted net loss attributable of $504 million, or $1.25 per share compared with adjusted net income of $665 million, or $1.60 per share, in the year-ago period.

The company recorded a gain of $1.8 billion in the quarter related to inventory valuation.

Reporting by Shradha Singh in Bengaluru; Editing by Ramakrishnan M.

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