8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Aug 3, 2016)

Filed August 3, 2016For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on August 3, 2016, to report its financial results for the second quarter ended June 30, 2016. The filing includes a press release detailing these results and announces a conference call scheduled for the same day to discuss the performance. Investors should note that the company utilizes and reports certain non-GAAP financial measures, such as distributable cash flow, gross margin, operating margin, and Adjusted EBITDA, which are reconciled to their GAAP equivalents. These non-GAAP measures provide additional insights but should not be considered substitutes for GAAP-based financial metrics.

Key Highlights

  • 1Targa Resources Corp. (TRGP) announced its Q2 2016 financial results via an 8-K filing on August 3, 2016.
  • 2A press release containing the detailed financial results for the quarter ended June 30, 2016, was furnished as Exhibit 99.1.
  • 3A conference call was scheduled for August 3, 2016, to discuss the Q2 financial results.
  • 4The company utilizes and provides reconciliations for non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and Adjusted EBITDA.
  • 5Investors are advised that these non-GAAP measures should be considered in conjunction with, not as a replacement for, GAAP financial measures.
  • 6The information furnished in this 8-K, including Exhibit 99.1, is not considered 'filed' for Section 18 purposes and will not be incorporated by reference into other SEC filings unless explicitly stated.

Frequently Asked Questions

This 8-K filing is primarily to announce and provide the financial results of Targa Resources Corp. for the second quarter ended June 30, 2016, through an accompanying press release.

The filing highlights that Targa Resources will discuss both GAAP and non-GAAP financial measures, specifically mentioning distributable cash flow, gross margin, operating margin, and Adjusted EBITDA, along with their GAAP counterparts like net cash provided by operating activities and net income (loss).

The detailed financial results are contained within the press release furnished as Exhibit 99.1 to this 8-K filing. The company also hosted a conference call on August 3, 2016, to discuss these results, and a replay is available on their investor website.

The company states that its non-GAAP measures should not be considered as alternatives to GAAP measures. While they offer additional insights, investors should rely on GAAP measures for a complete understanding of the company's financial performance and liquidity.