Summary
Targa Resources Corp. (TRGP) filed an 8-K on August 8, 2019, to report its financial results for the second quarter ended June 30, 2019. The company also announced a conference call to discuss these results, which will be webcast and available for replay. Investors should note that the company's earnings release includes both GAAP and non-GAAP financial measures, such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA. Targa Resources emphasizes that these non-GAAP measures should be considered alongside, not as substitutes for, GAAP measures like net cash provided by operating activities and net income. The furnished press release, incorporated by reference as Exhibit 99.1, contains the detailed financial information for the quarter. While this filing provides an update on the company's operational and financial performance, it's important for investors to review the accompanying press release for specific figures and a full understanding of the company's reported results and any forward-looking statements or guidance provided therein. The non-GAAP reconciliations within the release are crucial for a comprehensive analysis.
Key Highlights
- 1Targa Resources Corp. announced its Q2 2019 financial results via an 8-K filing on August 8, 2019.
- 2A conference call and webcast were scheduled for August 8, 2019, to discuss the Q2 results.
- 3The earnings release includes non-GAAP financial measures: distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
- 4Reconciliations between non-GAAP and GAAP financial measures are provided in the earnings release.
- 5Investors are advised that non-GAAP measures are not replacements for GAAP metrics like net income or cash flow from operations.
- 6The press release containing the financial results is furnished as Exhibit 99.1 to the 8-K filing.
- 7Information furnished under Item 2.02 is not considered 'filed' for Section 18 purposes and may not be automatically incorporated into future SEC filings.