8-KOther Events

VALERO ENERGY CORP/TX 8-K Report (Jul 29, 2003)

Filed July 29, 2003For Securities:VLO

Summary

This 8-K filing from Valero Energy Corp. (VLO) on July 29, 2003, primarily serves to furnish a press release detailing the company's second-quarter 2003 financial results. The press release, included as Exhibit 99.1, contains important operational and financial information. Investors should note that the company is disclosing a non-GAAP financial measure, EBITDA, and has provided a reconciliation to the nearest GAAP measure, as outlined in their previous 10-K filing. While specific financial figures are not detailed within the 8-K itself, the filing signals the release of Q2 2003 earnings. The incorporation of the press release is the core event, offering investors direct insight into Valero's performance during the period. The filing also clarifies that this information is being furnished, not filed, meaning it won't be automatically incorporated into future registration statements unless explicitly stated.

Key Highlights

  • 1Valero Energy Corp. (VLO) filed an 8-K on July 29, 2003, to report Q2 2003 financial results.
  • 2The key information is contained in Exhibit 99.1, a press release dated July 29, 2003.
  • 3The company is disclosing EBITDA, a non-GAAP financial measure, along with a GAAP reconciliation.
  • 4The use and reconciliation of EBITDA are explained in Valero's 2002 10-K filing.
  • 5This filing is classified as 'furnished' rather than 'filed,' impacting its incorporation into future SEC filings.
  • 6The filing relates to Valero's operational and financial performance for the second quarter of 2003.

Frequently Asked Questions

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

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. Valero is reporting this non-GAAP financial measure as it provides a view of operational profitability before certain accounting and financing adjustments. The company has provided a reconciliation to the nearest GAAP measure (Net Income) and explains its rationale in its 2002 10-K.

The specific financial results for the second quarter of 2003 are detailed in the press release furnished as Exhibit 99.1 to this 8-K filing.

No, this information is being 'furnished' rather than 'filed.' This means it will not be automatically incorporated by reference into Valero's future registration statements unless the company specifically states it should be.