Earnings roundup: 1Q profit, revenue down at Valero, Frost, Tesla

Welcome back to Earnings Roundup, SA Inc’s weekly summary of the latest financial reports from companies of local interest. Look for it online Monday during quarterly or annual earnings reporting periods. This week’s roundup of recent quarterly financial reports includes San Antonio-based Cullen/Frost Bankers Inc. and Valero Energy Corp., along with others of local interest, such as Austin area-based Tesla Inc., Dallas-based AT&T Inc. and Southwest Airlines Co.

reported a $355 million loss amid falling revenue in the first quarter, as the aircraft manufacturer faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. Net income: Loss of $355 million vs. loss of $425 million Revenue: $16.57 billion vs. $17.92 billion Quotable: “Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else.

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