8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Feb 23, 2012)

Filed February 23, 2012For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed this Form 8-K on February 23, 2012, primarily to report its financial results for the fourth quarter and full year ended December 31, 2011. The filing announces the release of a press detailing these results and a conference call to discuss them further. Investors should note that the company utilized and presented certain non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA, in its earnings release and conference call. While the specific financial figures are not detailed within the 8-K itself, it directs investors to the furnished press release (Exhibit 99.1) for comprehensive details on the 2011 performance and the reconciliations of non-GAAP measures to their GAAP equivalents. The company emphasizes that these non-GAAP metrics should be considered alongside, and not as substitutes for, GAAP measures like net cash provided by operating activities and net income.

Key Highlights

  • 1Targa Resources announced its financial results for the fourth quarter and full year ended December 31, 2011, via a press release filed on February 23, 2012.
  • 2A conference call was scheduled for February 23, 2012, to discuss the reported financial results.
  • 3The earnings press release, furnished as Exhibit 99.1, contains the detailed financial information and is incorporated by reference.
  • 4The company utilized and disclosed non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and Adjusted EBITDA.
  • 5Targa Resources provided reconciliations for these non-GAAP measures to their most comparable GAAP financial measures.
  • 6Investors are advised that non-GAAP measures should not be considered as alternatives to GAAP measures for liquidity or financial performance.
  • 7A replay of the conference call webcast was made available on the company's website until March 8, 2012.

Frequently Asked Questions

The primary purpose of this Form 8-K filing by Targa Resources Corp. on February 23, 2012, is to report its financial results for the three months and the full year ended December 31, 2011, and to announce a related conference call.

The detailed financial results are contained within the press release dated February 23, 2012, which is furnished as Exhibit 99.1 to this 8-K filing and is incorporated by reference.

Targa Resources used and presented non-GAAP financial measures including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA in its earnings release and accompanying discussions.

The company states that its non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net cash provided by operating activities or net income. They should be considered in conjunction with the GAAP measures and the provided reconciliations.