8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Aug 3, 2017)

Filed August 3, 2017For Securities:TRGP

Summary

Targa Resources Corp. filed an 8-K on August 3, 2017, primarily to furnish its earnings press release for the three months ended June 30, 2017. The report indicates that the company held a conference call to discuss these results on the same day, which was webcast live. Investors should note that the press release includes non-GAAP financial measures like distributable cash flow, gross margin, operating margin, and adjusted EBITDA. The company explicitly states that these non-GAAP measures should not be considered as substitutes for GAAP measures and provides reconciliations within the press release itself.

Key Highlights

  • 1Targa Resources Corp. announced its second-quarter 2017 financial results on August 3, 2017.
  • 2The company held a conference call on August 3, 2017, to discuss its Q2 2017 earnings.
  • 3The 8-K filing includes the full earnings press release as Exhibit 99.1.
  • 4The press release contains non-GAAP financial measures: distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 5Targa Resources provided reconciliations between its non-GAAP and GAAP financial measures in the press release.
  • 6The company emphasized that non-GAAP measures should not replace GAAP measures for evaluating financial performance or liquidity.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally present Targa Resources Corp.'s earnings press release for the second quarter ended June 30, 2017, and to announce the accompanying conference call.

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

The detailed financial results are available in the press release furnished as Exhibit 99.1 to this 8-K filing. A replay of the conference call webcast was also made available through the company's investor website.

The company states that its non-GAAP financial measures should not be considered as alternatives to GAAP measures. While important for understanding operational performance, they are supplemental and should be reviewed alongside GAAP results.