8-KOther Events

VALERO ENERGY CORP/TX 8-K Report (Apr 22, 2003)

Filed April 22, 2003For Securities:VLO

Summary

Valero Energy Corporation (VLO) filed an 8-K on April 22, 2003, primarily to disclose its financial results for the first quarter of 2003. The report indicates that the company issued a press release on the same day detailing these results. Investors should note that the press release includes EBITDA, a non-GAAP financial measure, which is reconciled to its nearest GAAP equivalent. The company references its 2002 10-K for further explanation of its use of EBITDA. This filing serves as a mechanism for Regulation FD disclosure, ensuring that material information about the company's financial performance is made available to the public. While the specific financial figures for Q1 2003 are not detailed within the 8-K itself, the associated press release (Exhibit 99.1) is the key document for investors seeking quantitative details on Valero's performance during the period.

Key Highlights

  • 1Valero Energy Corporation filed an 8-K on April 22, 2003, to disclose Q1 2003 financial results.
  • 2The filing includes a press release (Exhibit 99.1) containing the company's Q1 2003 earnings announcement.
  • 3The press release utilizes EBITDA, a non-GAAP financial measure, alongside GAAP measures.
  • 4Valero provides a reconciliation of EBITDA to its nearest GAAP financial measure.
  • 5The company refers to its 2002 10-K filing for detailed rationale behind its use of EBITDA.
  • 6The information is furnished under Regulation FD disclosure rules.
  • 7The filing's primary purpose is to disseminate material financial information to the public.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose Valero Energy Corporation's financial results for the first quarter of 2003 through an accompanying press release.

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. Valero uses it as a non-GAAP financial measure, which they believe provides useful insights into their operational performance. The company refers investors to their 2002 10-K filing for a detailed explanation of their rationale for using EBITDA.

The specific Q1 2003 financial results are detailed in the press release, Exhibit 99.1, which is furnished with this 8-K filing. Investors should refer to that press release for the quantitative data.

The information furnished under Item 9 (Regulation FD Disclosure) of this 8-K is not considered 'filed' in the same way as other parts of SEC filings. Unless specifically stated otherwise, it will not be automatically incorporated by reference into future registration statements filed by Valero.