Summary
Targa Resources Corp. (TRGP) filed an 8-K on November 1, 2012, to report its financial results for the three and nine months ended September 30, 2012. The report primarily serves as a notification that the company issued an earnings press release and scheduled a conference call to discuss these results. Investors should note that the company utilizes several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA, in its reporting. While these measures are presented alongside GAAP figures and include reconciliations, investors should exercise due diligence in understanding their calculation and implications for assessing the company's financial health and performance.
Key Highlights
- 1Targa Resources announced its financial results for the third quarter and the first nine months of 2012.
- 2The company held a conference call on November 1, 2012, to discuss these financial results.
- 3A press release detailing the financial results, dated November 1, 2012, is furnished as an exhibit to this 8-K.
- 4The filing includes important non-GAAP financial measures used by Targa Resources, such as distributable cash flow and Adjusted EBITDA.
- 5Reconciliations between the non-GAAP measures and their most comparable GAAP measures are provided.
- 6Investors are cautioned that non-GAAP measures should not be considered substitutes for GAAP financial metrics.
- 7The report confirms the company's principal executive office is located at 1000 Louisiana, Suite 4300, Houston, TX 77002.
Frequently Asked Questions
The main purpose of this 8-K filing is to report Targa Resources Corp.'s financial results for the three and nine months ended September 30, 2012, and to provide notification of a related conference call. The earnings press release is included as an exhibit.
Targa Resources uses several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA. These are presented alongside their GAAP equivalents, with reconciliations provided.
The detailed financial results are contained within the press release dated November 1, 2012, which is furnished as Exhibit 99.1 to this 8-K filing. The company also discussed these results on a conference call.
Investors should carefully review the provided reconciliations to understand how these non-GAAP measures (distributable cash flow, Adjusted EBITDA, etc.) are derived from GAAP figures. While useful for understanding operational performance, they should not be used as a sole basis for financial assessment and should be considered alongside traditional GAAP metrics.