Tesoro Corp. (TSO) reported a fourth quarter net loss of $179 million, or $1.30 per share, compared to net earnings of $97 million or $0.70 per share for the fourth quarter of 2008. The company's fourth quarter results include a non-cash charge of $43 million for a goodwill impairment related to the Anacortes refinery. Adjusted net loss for the latest quarter was $136 million, or $0.99 per share.
Revenues for the quarter were $4.67 billion, up from $4.24 billion in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.92 per share on revenues of $4.71 billion. Analysts' estimates typically exclude special items.
Tesoro announced it will suspend its quarterly dividend for the foreseeable future in order to preserve cash and keep a healthy balance sheet.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.