8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Aug 6, 2012)

Filed August 6, 2012For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on August 6, 2012, to report its financial results for the second quarter and first half of 2012. The filing indicates that the company issued a press release detailing these results and also scheduled a conference call to discuss them. The press release, furnished as an exhibit, provides key financial performance indicators and reconciliations to GAAP measures. Investors should note that the company utilizes and discusses non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and Adjusted EBITDA. While these non-GAAP metrics are presented as alternatives to GAAP measures like net income and cash flow from operations, the company explicitly states they should not be considered as direct substitutes. The filing directs investors to the company's website for further details and access to replay the conference call.

Key Highlights

  • 1Targa Resources Corp. reported its financial results for the three and six months ended June 30, 2012.
  • 2The company issued a press release on August 6, 2012, detailing its Q2 2012 financial performance.
  • 3A conference call was scheduled for August 6, 2012, to discuss the financial results.
  • 4The press release is furnished as Exhibit 99.1 to the 8-K filing.
  • 5The company utilized and discussed non-GAAP financial measures including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA.
  • 6Reconciliations of non-GAAP financial measures to comparable GAAP measures were provided.
  • 7The company emphasized that non-GAAP measures should not be considered replacements for GAAP measures.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Targa Resources Corp.'s financial results for the second quarter and first half of 2012, as detailed in a press release issued on August 6, 2012.

Targa Resources uses both GAAP (Generally Accepted Accounting Principles) financial measures and non-GAAP financial measures. The non-GAAP measures highlighted in this filing include distributable cash flow, gross margin, operating margin, and Adjusted EBITDA.

More detailed financial information can be found in the press release furnished as Exhibit 99.1 to this 8-K filing. Additionally, a replay of the conference call discussing these results was available on the Investors section of Targa Resources' website until August 20, 2012.

Targa Resources presents non-GAAP financial measures as supplemental information and provides reconciliations to the most directly comparable GAAP measures. However, the company explicitly states that these non-GAAP measures should not be viewed as alternatives to GAAP measures like net cash provided by operating activities or net income.