Updated at 9:38 a.m., Tuesday, August 7, 2007
Tesoro's second-quarter profit jumps to $443 million
Advertiser Staff
Tesoro Corp., which has Hawai'i's largest refinery among the refineries it operates, reported second-quarter net income rose by more than $115 million to $443 million, or $3.17 a share from a year earlier.The company said the increased profit was a result of increases in throughput, increased margins and the inclusion of a Los Angeles refinery. The company reported revenue climbed to $5.60 billion in the quarter ended June 30, from $4.93 billion a year earlier.
It reported throughput at its Hawai'i refinery rose to 87,000 barrels a day, or 1,000 more than the same 2006 period. Yield rose by a like amount to 88,000 barrels a day. Tesoro also operates self-service gas stations in Hawai'i.
The company operates seven refineries in the U.S. west with a capacity of 660,000 barrels a day.
