8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (May 4, 2017)

Filed May 4, 2017For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) announced its first-quarter 2017 financial results on May 4, 2017, via an 8-K filing. The report primarily serves to furnish the company's earnings press release and details regarding a scheduled conference call to discuss these results. Investors should note that the company utilizes non-GAAP financial measures, such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA, which are reconciled to their GAAP equivalents in the provided press release. The core of this filing is the earnings press release, which will contain the specifics of TRGP's financial performance for the quarter ended March 31, 2017. While the 8-K itself doesn't provide the detailed figures, it directs investors to the press release (Exhibit 99.1) for operational and financial condition updates. The company emphasizes that these non-GAAP measures should be considered alongside, not as replacements for, traditional GAAP metrics like net income and cash flow from operations.

Key Highlights

  • 1Targa Resources Corp. (TRGP) released its Q1 2017 earnings via an 8-K filing on May 4, 2017.
  • 2The filing incorporates by reference the company's earnings press release (Exhibit 99.1) for detailed Q1 2017 financial results.
  • 3A conference call to discuss the Q1 2017 results was scheduled for May 4, 2017.
  • 4TRGP utilizes and reports on several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 5The company provides reconciliations for its non-GAAP measures to the most comparable GAAP financial measures.
  • 6Investors are advised that non-GAAP measures should not be considered a substitute for GAAP measures like net income or operating cash flow.
  • 7Information furnished under Item 2.02 and Exhibit 99.1 is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, and will not be automatically incorporated into future SEC filings unless explicitly stated.

Frequently Asked Questions

The detailed financial results are located in the press release furnished as Exhibit 99.1 to the 8-K filing dated May 4, 2017. This press release is incorporated by reference into the filing.

Targa Resources reports on distributable cash flow, gross margin, operating margin, and adjusted EBITDA. These are non-GAAP measures that the company believes provide useful insights into its financial performance and liquidity.

Investors should interpret these non-GAAP measures in conjunction with the company's GAAP financial results, such as net income and cash flow from operating activities. The company provides reconciliations in its press release, and these non-GAAP measures should not be considered as alternatives to GAAP measures.

No, the information furnished under Item 2.02 and the accompanying Exhibit 99.1 is generally not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934. This means it does not automatically become part of the company's SEC filings unless specifically incorporated by reference in a future filing.