8-KEarnings & ResultsExhibits & Filings

VALERO ENERGY CORP/TX 8-K Report, Financial Results (Feb 1, 2005)

Filed February 1, 2005For Securities:VLO

Summary

This Form 8-K filing by Valero Energy Corporation (VLO), dated February 1, 2005, primarily serves to report the company's financial results for the fourth quarter of 2004. The filing includes a press release announcing these results, which is furnished as an exhibit. Investors should note that the press release discloses the use of EBITDA, a non-GAAP financial measure, and provides a reconciliation to its nearest GAAP equivalent. The company explains its rationale for using EBITDA in the press release and its 2003 Form 10-K. This filing's purpose is to inform stakeholders about the company's performance during the specified period, offering key financial metrics that may differ from standard GAAP reporting. Investors are encouraged to review the provided press release for detailed financial performance and the specific explanations behind the use of non-GAAP measures.

Key Highlights

  • 1Valero Energy Corporation (VLO) filed a Form 8-K on February 1, 2005, reporting its Q4 2004 financial results.
  • 2The report's primary purpose is to furnish a press release detailing the company's fourth-quarter earnings.
  • 3The press release includes the non-GAAP financial measure EBITDA.
  • 4A reconciliation between EBITDA and the nearest GAAP financial measure is provided in the press release.
  • 5Valero cites its 2003 Form 10-K for a detailed explanation of its use of EBITDA.
  • 6Information furnished under Item 2.02 is not typically incorporated into registration statements unless specifically stated.
  • 7Exhibit 99.1 contains the press release dated February 1, 2005.

Frequently Asked Questions

The main purpose of this Form 8-K filing is to publicly disclose Valero Energy Corporation's financial results for the fourth quarter of 2004, along with providing a press release that details these results.

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. Valero is using it as a non-GAAP financial measure to provide additional insight into the company's operational performance. The company has provided a reconciliation to the nearest GAAP measure and explains its rationale for using EBITDA in the furnished press release and its 2003 Form 10-K.

Generally, information furnished under Item 2.02 of Form 8-K, including the press release, is not automatically incorporated by reference into Valero's registration statements filed under the Securities Act of 1933. It will only be considered part of a registration statement if explicitly stated.