Centaurus Financial - we invest in your success
CuraDebit Free Debt Analysis
  Home > Fortune 500 Companies > Tesoro Corp

Tesoro Corp

Tesoro Corp is a publicly traded company having a good stock performance result. Tesoro Corp is a fortune 500 stock listed company trading under TSO.

Tesoro Corporation is a Fortune 200 company headquartered in San Antonio, Texas, with 2005 annual revenues of 16.5 billion dollars, assets of 5 billion dollars, and more than 4,000 employees. The company is a leading independent refiner and marketer of petroleum products, operating 6 refineries in the Western United States with a combined rated crude oil capacity of nearly 560,000 barrels per day. The company’s retail marketing system includes over 500 branded retail stations, of which more than 200 are company-operated under the Tesoro and Mirastar brands.

Tesoro Corporation today reported record 2005 fourth quarter net earnings of 69 million dollars, or 0.97 dollars per share compared to breakeven results for the fourth quarter of 2004. Fourth quarter included special after-tax charges of 57 million dollars, or 0.81 dollars per share, for tender and call premiums and the write-off of unamortized debt issuance costs associated with the company’s refinancing of almost 1 billion dollars, of debt. Excluding these special items, fourth quarter earnings were 126 million dollars, or 1.78 dollars per share.

The fourth quarter results also included other after-tax charges of 18 million dollars, or 0.25 dollars per share, which included a charge of 7 million dollars, related to obsolete refining assets and a 3 million dollars, impairment charge for certain retail assets. It also included is an 8 million dollars charge for the accelerated depreciation primarily relating to the modification of the fluid coker unit at the company’s Golden Eagle refinery. As previously announced, the existing fluid coker is being modified to a delayed coker with significant operational and environmental benefits.

The company reported record net earnings of 507 million dollars, or 7.20 dollars per share, versus net earnings for the full year of 2004 of 328 million dollars, or 4.76 dollars per share. Excluding special items, full year 2005 net earnings were 571 million dollars, or 8.11 dollars per share, compared to net earnings of 343 million dollars, or 4.97 dollars per share, for the full year of 2004.

Tesoro, social responsibility is an integral part of their business practices as well as their corporate culture. This is a responsibility, and a promise, they uphold to their employees, shareholders and the communities and environment in which they operate.

Back to Fortune 500 Companies