8-KOther Events

VALERO ENERGY CORP/TX 8-K Report (Apr 28, 2004)

Filed April 28, 2004For Securities:VLO

Summary

Valero Energy Corporation (VLO) filed an 8-K on April 28, 2004, to report its first quarter 2004 financial results. The primary purpose of this filing is to furnish a press release containing these results, which is attached as Exhibit 99.1. Investors should note that the press release includes non-GAAP financial measures, specifically EBITDA and Debt-to-Capitalization Ratio (net of cash). The company states that these measures are presented for informational purposes and that reconciliations to their nearest GAAP equivalents are provided within the press release, as well as in their 2003 10-K filing. This furnishing of information is done under Item 12 of Form 8-K, meaning it's not officially 'filed' and therefore will not be automatically incorporated into future SEC filings unless explicitly stated.

Key Highlights

  • 1Valero Energy Corporation announced its first quarter 2004 financial results via an 8-K filing on April 28, 2004.
  • 2The filing includes a press release (Exhibit 99.1) detailing the Q1 2004 earnings.
  • 3The press release contains non-GAAP financial measures: EBITDA and Debt-to-Capitalization Ratio (net of cash).
  • 4Reconciliations for these non-GAAP measures to GAAP are provided in the press release and the company's 2003 10-K.
  • 5The information is furnished under Item 12 of Form 8-K, not officially filed.
  • 6The furnished information will not be incorporated by reference into future SEC filings unless specifically noted.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish the market with Valero Energy Corporation's first quarter 2004 earnings results, as detailed in an accompanying press release.

The press release discusses two non-GAAP financial measures: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and Debt-to-Capitalization Ratio (net of cash).

Valero uses these non-GAAP measures as they believe they provide additional insights into the company's operating performance and financial condition, aiding in the analysis of their business. Reconciliations to GAAP measures are provided for transparency.

No, the information in this report is being 'furnished' under Item 12 of Form 8-K, not 'filed.' Therefore, it will not be automatically incorporated by reference into future SEC filings like registration statements, unless Valero specifically states otherwise.