Summary
Targa Resources Corp. (TRGP) filed an 8-K on February 15, 2017, to announce its financial results for the fourth quarter and full year ended December 31, 2016. The filing primarily serves to furnish the accompanying press release, which details the company's financial performance and includes a conference call for further discussion. Investors should note the use of non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA, which are provided with reconciliations to their GAAP equivalents.
Key Highlights
- 1Targa Resources Corp. reported its financial results for the three months and year ended December 31, 2016.
- 2The company held a conference call on February 15, 2017, to discuss these results, with a webcast available for investors.
- 3The press release, furnished as Exhibit 99.1, contains detailed financial information for the period.
- 4Targa Resources utilizes and provides reconciliations for several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
- 5Investors are cautioned that these non-GAAP measures should be considered alongside, not as substitutes for, GAAP measures like net income and cash flow from operations.
Frequently Asked Questions
The main purpose of this 8-K filing is to announce Targa Resources Corp.'s financial results for the fourth quarter and full year ended December 31, 2016, and to furnish the related earnings press release.
Targa Resources highlights several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA. Reconciliations to their GAAP counterparts are provided.
Investors can find more detailed financial information in the press release furnished as Exhibit 99.1 to this 8-K filing. A webcast replay of the conference call discussing these results will also be available through the Investor Relations section of Targa Resources' website.