8-KEarnings & ResultsExhibits & Filings

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

Filed November 8, 2018For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on November 8, 2018, primarily to furnish its earnings press release for the three months ended September 30, 2018. The release, attached as Exhibit 99.1, details the company's operational and financial performance for the third quarter of 2018, along with providing details for an upcoming conference call to discuss these results. Investors should note that the filing includes non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA, which the company emphasizes should be considered alongside, not as replacements for, GAAP measures. While the 8-K itself does not contain detailed financial figures, it directs investors to the furnished press release for the specific quarterly results. The company also highlights that this information, unless otherwise stated in future filings, is furnished and not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it won't be automatically incorporated into other SEC filings. Investors seeking to understand TRGP's Q3 2018 performance should refer to the accompanying press release.

Key Highlights

  • 1Targa Resources Corp. (TRGP) filed an 8-K on November 8, 2018, to report its Q3 2018 financial results.
  • 2The 8-K includes a press release (Exhibit 99.1) detailing the financial and operational performance for the three months ended September 30, 2018.
  • 3A conference call to discuss these results was scheduled for November 8, 2018.
  • 4The filing emphasizes the use of non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 5Reconciliations between non-GAAP and comparable GAAP financial measures are provided in the press release.
  • 6The company clarifies that the furnished information is not considered 'filed' under Section 18 of the Securities Exchange Act of 1934 unless specifically incorporated by reference into other filings.
  • 7Investors are directed to the press release for detailed financial performance data.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish Targa Resources Corp.'s earnings press release for the third quarter ended September 30, 2018. It serves as a notification to investors about the release of these results and provides access to the detailed information through the attached exhibit.

The specific financial results for the third quarter ended September 30, 2018, are detailed in the press release furnished as Exhibit 99.1 to this 8-K filing. Investors should refer to this document for detailed figures on revenue, earnings, and other financial metrics.

Targa Resources uses non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA. The company provides reconciliations of these measures to the most directly comparable GAAP measures in its press release. Investors should use these non-GAAP measures as supplementary information to GAAP measures like net cash provided by operating activities or net income, and not as a substitute for them when assessing the company's liquidity or financial performance.

No, generally the information furnished in this 8-K, including the press release, is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934. This means it will not be automatically incorporated into other SEC filings, such as registration statements or annual reports, unless Targa Resources specifically identifies it as being incorporated by reference.