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Home > Fortune 500 Companies > Premcor Inc
Premcor Inc
Premcor Inc is a publicly traded company having a good stock performance result. Premcor Inc is a fortune 500 stock listed company trading under PCO.
Premcor knows how the prime the pump, the gas pumps, that is. One of the largest independent oil refiners in the US, Premcor, through operating subsidiary Premcor Refining Group, produces gasoline, diesel, and aviation fuel. Mr. Thomas O''Malley Named as Chairman and Chief Executive Officer of Premcor Inc. since from Feb. 2002. The company has total assets of 33 billion dollars and annual revenues of nearly 75 billion dollars, which would rank the company No. 15 on the current listing of the Fortune 500.
The company recorded revenues of 15,334.8 million dollars during the fiscal year ended December 2004, an increase of 74.2 percent over 2003. The increase was primarily attributable to the acquisition of the company's Delaware City refinery, continued strong refining margins and wider price differentials between light low-sulfur crude oil and heavy high-sulfur crude oil in the company's markets. The operating income of the company during fiscal 2004 was 904.2 million dollars, an increase of 173.7 percent over fiscal 2003. The net income was 477.9 million dollars during fiscal year 2004, an increase of 309.9 percent over 2003.
Premcor Inc reported net income for the third quarter of 2005 of 1.3 billion dollars, or 4.37 dollars per share, compared to 434 million dollars, or 1.57 dollars per share, for the same period last year. Including the special non-cash item, net income for the third quarter of 2005 was 862 million dollars, or 2.94 dollars per share. The futures market is already reflecting these challenges and if you look at the forward curve, refined product margins for next year are currently trading at higher levels than they are for this year. So, when you consider the strong market fundamentals, a full-year contribution of the Premcor assets, and the additional 100,000 barrels per day of capacity coming on-line in our refining system next year from our strategic projects, you can see why we believe that 2006 will be another record-setting year for Premcor Inc.
For the six months ended June 30, 2005, Premcor reported net income from continuing operations of 462.1 million dollars, or 5.02 dollars per share, compared to net income from continuing operations of 192.9 dollars million, or 2.37 dollars per share, for the first six months of 2004. Including the impact of special items and discontinued operations, Premcor reported net income of 454.6 million dollars, or 4.94 dollars per share, for the six months ended June 30, 2005, compared to net income of 183.2 million dollars, or 2.25 dollars per share, for the first six months of 2004.Premcor Inc committed to the safety of its employees and its operations as a core business value. They are providing a challenging, rewarding environment that facilitates creative thinking, teamwork and open communications.
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