8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Nov 2, 2016)

Filed November 2, 2016For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on November 2, 2016, to report its financial results for the third quarter ended September 30, 2016. The filing primarily serves to attach the company's earnings press release, which provides detailed financial performance and operational updates. Investors should note that the press release includes the discussion of several non-GAAP financial measures, such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA, with reconciliations provided to their GAAP equivalents.

Key Highlights

  • 1Targa Resources Corp. announced its Q3 2016 financial results via an 8-K filing on November 2, 2016.
  • 2The filing includes a press release detailing the company's performance for the three months ended September 30, 2016.
  • 3A conference call to discuss the results was scheduled for November 2, 2016.
  • 4The press release incorporates non-GAAP financial measures including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 5Reconciliations for non-GAAP measures to their comparable GAAP financial measures are provided within the press release.
  • 6Investors are cautioned that these non-GAAP measures should be considered alongside, not as a substitute for, GAAP measures.
  • 7The furnished information is not deemed 'filed' for Section 18 purposes and will not be automatically incorporated into future SEC filings.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Targa Resources Corp.'s financial results for the third quarter of 2016 and to provide access to the accompanying press release and conference call information.

The press release discusses several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA. Reconciliations to their most comparable GAAP measures are provided.

Investors should interpret these non-GAAP financial measures as supplemental information. While they offer insights into operational performance, they should be considered alongside, and not as a replacement for, GAAP-based financial measures such as net cash provided by operating activities and net income.

More detailed financial information is available in the press release furnished as Exhibit 99.1 to this 8-K filing, which can be accessed through the SEC's EDGAR database or Targa Resources Corp.'s investor relations website.