8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Nov 4, 2013)

Filed November 4, 2013For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on November 4, 2013, primarily to report its financial results for the three and nine months ended September 30, 2013, and to provide forward-looking guidance for the fourth quarter of 2013 and calendar years 2014 and 2015. The report also announced a conference call scheduled for November 5, 2013, to discuss these results and projections. Investors should note that the company utilizes several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA, and these will be reconciled to their GAAP equivalents in the accompanying press release. This filing serves as a key update for investors, offering insights into the company's recent performance and its outlook for the near to medium term. The forward-looking guidance is particularly important for assessing the company's growth prospects and potential returns. Investors are encouraged to review the furnished press release (Exhibit 99.1) for the detailed financial data and reconciliations of non-GAAP measures.

Key Highlights

  • 1Targa Resources Corp. reported Q3 and year-to-date financial results as of September 30, 2013.
  • 2The company provided financial forecasts for Q4 2013, and full years 2014 and 2015.
  • 3A conference call was scheduled for November 5, 2013, to discuss the financial results and outlook.
  • 4The report references the use of non-GAAP financial measures like distributable cash flow, gross margin, operating margin, and Adjusted EBITDA.
  • 5Reconciliations of non-GAAP to GAAP measures are provided in the press release furnished with the 8-K.
  • 6The press release detailing the results and forecasts is included as Exhibit 99.1.

Frequently Asked Questions

The primary purpose of this 8-K filing by Targa Resources Corp. is to report their financial results for the third quarter and the first nine months of 2013, and to provide financial guidance for the fourth quarter of 2013 and the upcoming years of 2014 and 2015. It also announces an investor conference call to discuss these updates.

Targa Resources uses both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. This report specifically mentions non-GAAP measures such as distributable cash flow, gross margin, operating margin, and Adjusted EBITDA. The company provides reconciliations of these non-GAAP measures to their most comparable GAAP measures in the furnished press release.

The detailed financial results and forecasts are contained within the press release dated November 4, 2013, which is furnished as Exhibit 99.1 to this 8-K filing. Investors should refer to this exhibit for comprehensive information.

The forward-looking guidance for Q4 2013, 2014, and 2015 is crucial for investors as it indicates the company's expectations for future performance, growth trajectory, and financial health. It allows investors to make informed decisions about the company's potential for future profitability and returns.