Summary
Targa Resources Corp. (TRGP) filed an 8-K on November 2, 2017, to report its financial results for the third quarter ended September 30, 2017. The company also announced a conference call to discuss these results, scheduled for the same day. Investors should note that the earnings press release, furnished as Exhibit 99.1, includes several non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA. The company provides reconciliations for these non-GAAP measures to their most comparable GAAP equivalents, emphasizing that they should not be used as direct replacements for GAAP metrics like net cash provided by operating activities or net income.
Key Highlights
- 1Targa Resources announced its Q3 2017 financial results via an 8-K filing on November 2, 2017.
- 2A conference call was scheduled for November 2, 2017, to discuss the Q3 2017 financial performance.
- 3The earnings press release, Exhibit 99.1, contains key financial information for the period.
- 4The company utilizes and discloses several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
- 5Reconciliations between non-GAAP and GAAP financial measures are provided within the earnings release.
- 6TRGP advises investors that non-GAAP measures should be considered alongside, not as substitutes for, GAAP financial metrics.
- 7The information furnished in this 8-K is not considered 'filed' for Section 18 purposes and will not be automatically incorporated into future SEC filings.
Frequently Asked Questions
The main purpose of this 8-K filing is to report Targa Resources Corp.'s financial results for the third quarter ended September 30, 2017, and to provide investors with access to the accompanying earnings press release and details for a conference call to discuss these results.
Targa Resources is reporting several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA. These provide additional insights into the company's operational and financial performance beyond traditional GAAP measures.
Detailed financial information, including the Q3 2017 results and reconciliations of non-GAAP measures to GAAP measures, is available in the earnings press release furnished as Exhibit 99.1 to this 8-K filing. A replay of the conference call webcast will also be available on the company's investor relations website.
No, the information furnished under Item 2.02 of this 8-K, including Exhibit 99.1, is generally considered 'furnished,' not 'filed.' This means it is not subject to the liability provisions of Section 18 of the Securities Exchange Act of 1934 unless the company explicitly incorporates it by reference into a different filing.