8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Apr 29, 2016)

Filed April 29, 2016For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on April 29, 2016, to report its financial results for the first quarter ended March 31, 2016. The filing primarily directs investors to a furnished press release (Exhibit 99.1) which details these results and will be discussed further on an accompanying conference call. Investors should pay close attention to the press release for the specific financial metrics and commentary provided by the company. The company explicitly states that the press release and conference call may include non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and Adjusted EBITDA. While these are important for understanding the company's operational performance, investors are cautioned to consider them alongside their GAAP equivalents. Reconciliations for these non-GAAP measures to their most comparable GAAP measures are expected to be provided within the press release itself.

Key Highlights

  • 1Targa Resources Corp. announced its Q1 2016 financial results via an 8-K filing on April 29, 2016.
  • 2The primary source of detailed financial information is a press release furnished as Exhibit 99.1.
  • 3A conference call was scheduled for April 29, 2016, to discuss the Q1 results.
  • 4The company disclosed the use of non-GAAP financial measures including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA.
  • 5Reconciliations between non-GAAP and GAAP financial measures are expected to be provided.
  • 6Investors are advised to review both GAAP and non-GAAP measures for a comprehensive understanding of financial performance.
  • 7Information furnished in this 8-K is not deemed 'filed' for Section 18 purposes and won't be incorporated into other SEC filings unless explicitly stated.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Targa Resources Corp.'s financial results for the first quarter ended March 31, 2016, and to announce an accompanying conference call to discuss these results.

The detailed financial results are primarily found in the press release furnished as Exhibit 99.1 to this 8-K filing. A replay of the conference call webcast will also be available on the company's investor relations website.

Targa Resources mentions several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA. The company emphasizes that these should be considered alongside their GAAP counterparts.

No, the non-GAAP financial measures mentioned are supplementary and should not be considered as alternatives to GAAP measures like net cash provided by operating activities or net income. The press release is expected to provide reconciliations to the most comparable GAAP financial measures.