UPDATE: Tesoro Posts Downbeat Q4 Profit
Tesoro (NYSE: TSO) posted a weaker-than-expected fourth-quarter profit.
Tesoro posted a quarterly profit of $27 million, or $0.19 per share, versus a year-ago loss of $124 million, or $0.89 per share. Excluding one-time expenses, Tesoro earned $1.34 per share.
Its revenue climbed 7.3% to $8.27 billion. However, analysts were expecting a profit of $1.46 per share on revenue of $7.07 billion.
Tesoro shares fell 2.76% to $49.75 in after-hours trading.
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