8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Oct 17, 2012)

Filed October 17, 2012For Securities:TRGP

Summary

This Form 8-K filing from Targa Resources Corp., dated October 17, 2012, primarily discloses preliminary financial results for the third quarter of 2012 and provides updated financial forecasts for the fourth quarter of 2012 and for the full calendar years of 2013 and 2014. Investors should note that the report references a non-GAAP financial measure, Adjusted EBITDA, and includes reconciliations to GAAP measures. The filing does not contain new audited financial statements but serves to update the market on expected performance and future outlook. The key takeaway for investors is the forward-looking guidance provided by the company. While specific figures are detailed in the attached press release (Exhibit 99.1), the issuance of these forecasts indicates management's confidence in their operating performance and strategic direction. Investors should review the details of the Adjusted EBITDA guidance and its reconciliation to GAAP for a comprehensive understanding of the company's financial health and projected profitability.

Key Highlights

  • 1Targa Resources Corp. (TRGP) filed a Form 8-K on October 17, 2012.
  • 2The filing announces preliminary third-quarter 2012 results for Targa Resources Partners LP.
  • 3The report includes financial forecasts for the fourth quarter of 2012.
  • 4Forward-looking financial guidance for the full calendar years 2013 and 2014 is provided.
  • 5The press release (Exhibit 99.1) references and includes reconciliations for the non-GAAP financial measure 'Adjusted EBITDA'.
  • 6The information furnished is not considered 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.
  • 7Matthew J. Meloy, Senior Vice President, Chief Financial Officer and Treasurer, signed the report.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose Targa Resources Corp.'s preliminary financial results for the third quarter of 2012 and to provide updated financial forecasts for the fourth quarter of 2012 and for the calendar years 2013 and 2014. This includes information on the performance of Targa Resources Partners LP.

Adjusted EBITDA is a non-generally accepted accounting principle (non-GAAP) financial measure used by Targa Resources. It is often used by companies in the energy sector to provide a measure of operating performance that excludes certain non-cash or non-recurring items. The company includes reconciliations to GAAP measures (like net income) to help investors understand how it is calculated.

No, this filing primarily contains preliminary results and forecasts. It does not include new audited financial statements. The detailed financial information and forecasts are provided in the press release attached as Exhibit 99.1.

The detailed financial results for the third quarter of 2012, along with the forecasts for Q4 2012, 2013, and 2014, are included in the press release dated October 17, 2012, which is furnished as Exhibit 99.1 to this 8-K filing.