8-KEarnings & ResultsExhibits & Filings

VALERO ENERGY CORP/TX 8-K Report, Financial Results (Oct 26, 2004)

Filed October 26, 2004For Securities:VLO

Summary

This 8-K filing from Valero Energy Corporation (VLO), dated October 26, 2004, announces the company's financial results for the third quarter of 2004. The report primarily serves to furnish a press release detailing these earnings, which includes two non-GAAP financial measures: EBITDA and Debt-to-Capitalization Ratio (net of cash). Valero provides reconciliations for these non-GAAP measures to their closest GAAP equivalents, as is standard practice for investor transparency. Investors should note that this filing is furnished, not filed, meaning it will not be automatically incorporated into future SEC registration statements unless explicitly stated. The primary takeaway for investors is that VLO has provided an update on its quarterly financial performance, highlighting key operational and financial metrics that management utilizes to assess the company's performance and financial health.

Key Highlights

  • 1Valero Energy Corporation (VLO) reported its third quarter 2004 financial results on October 26, 2004.
  • 2The 8-K filing includes a press release detailing the company's earnings for the period.
  • 3The press release discloses two non-GAAP financial measures: EBITDA and Debt-to-Capitalization Ratio (net of cash).
  • 4Reconciliations of these non-GAAP measures to their respective GAAP financial measures are provided.
  • 5The company explains its use of these non-GAAP measures in the furnished press release and its 2003 Form 10-K.
  • 6The information furnished in this 8-K will not be automatically incorporated into future SEC registration statements.
  • 7This filing serves to inform investors of VLO's recent financial performance and the key metrics management uses.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly announce and furnish Valero Energy Corporation's financial results for the third quarter of 2004 through an accompanying press release.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and Debt-to-Capitalization Ratio (net of cash) are non-GAAP financial measures used by Valero to provide additional insights into its financial performance and leverage. The filing indicates that these measures are reconciled to their nearest GAAP equivalents.

This specific 8-K filing is furnished, not filed. This means the information within it, including the press release, will not be automatically incorporated by reference into future registration statements filed by Valero under the Securities Act of 1933 unless the company explicitly states otherwise.

The press release dated October 26, 2004, furnished as Exhibit 99.1 to this 8-K, contains the detailed financial results for the third quarter of 2004. Further context on the use of non-GAAP measures can be found in Valero's 2003 Form 10-K.