SAN ANTONIO – Editor’s note: This story was published through a partnership between the San Antonio Business Journal and KSAT.
Valero (NYSE: VLO) issued new guidance on its first quarter 2020 results, predicting a net loss attributable to shareholders of $1.8 billion to $2.1 billion on revenue of $20.1 billion to $22.2 billion.
The selling price of ethanol, in particular, has fallen sharply, and as a consequence, Valero has temporarily suspended operations at eight of its plants and reduced output at the remaining six.
It is not known which plants were closed, nor when they were closed and when they will reopen, if they haven't already.
Read the full story at the San Antonio Business Journal.