8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (May 3, 2018)

Filed May 3, 2018For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on May 3, 2018, to report its financial results for the first quarter ended March 31, 2018. The report primarily serves to furnish the company's earnings press release, which was also accompanied by a conference call announcement. Investors should note that the press release includes non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA, with reconciliations to GAAP provided. While the 8-K itself does not contain detailed financial figures, it directs investors to the furnished press release (Exhibit 99.1) for comprehensive results and discussions. These non-GAAP measures are important for understanding the company's operational performance and cash flow generation, particularly within the energy infrastructure sector where such metrics are commonly used. Investors are advised to review these non-GAAP measures in conjunction with the provided GAAP reconciliations to form a complete financial picture.

Key Highlights

  • 1Targa Resources Corp. reported Q1 2018 financial results via an 8-K filing on May 3, 2018.
  • 2The filing includes a press release (Exhibit 99.1) detailing the company's financial performance for the quarter ended March 31, 2018.
  • 3A conference call to discuss the Q1 2018 results was scheduled for May 3, 2018, and will be webcast.
  • 4The reported financial results will include key non-GAAP financial measures: distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 5Reconciliations between the non-GAAP measures and their most comparable GAAP financial measures are provided within the press release.
  • 6Investors are encouraged to refer to the furnished press release for detailed financial information and analysis.
  • 7The information furnished under Item 2.02 and Exhibit 99.1 is not considered 'filed' for Section 18 purposes and will not be automatically incorporated into future SEC filings unless specifically referenced.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Targa Resources Corp.'s financial results for the first quarter ended March 31, 2018, by furnishing its earnings press release and announcing a related conference call.

Detailed financial results, including the company's performance and discussion of various metrics, can be found in the press release furnished as Exhibit 99.1 to this 8-K filing.

The key non-GAAP financial measures mentioned are distributable cash flow, gross margin, operating margin, and adjusted EBITDA. These are important for understanding the company's operational performance and cash flow generation.

The filing states that these non-GAAP measures should not be considered as alternatives to GAAP measures like net income or cash flow from operations. Investors should review these non-GAAP measures alongside the provided reconciliations to GAAP figures for a comprehensive understanding of the company's financial health.