8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Aug 8, 2019)

Filed August 8, 2019For Securities:TRGP

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.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly announce and provide investors with Targa Resources Corp.'s financial results for the second quarter ended June 30, 2019, and to furnish the accompanying earnings press release.

Targa Resources highlights distributable cash flow, gross margin, operating margin, and adjusted EBITDA as key non-GAAP financial measures in its Q2 2019 earnings release. Reconciliations to comparable GAAP measures are provided within the release.

The detailed Q2 2019 financial results are contained in the press release furnished as Exhibit 99.1 to this 8-K filing. The company also held a conference call and webcast to discuss these results, with a replay available on their website.

Investors should interpret the non-GAAP financial measures as supplementary information. Targa Resources explicitly states that these measures should not be considered alternatives to GAAP financial measures such as net cash provided by operating activities or net income, and should be analyzed in conjunction with the GAAP figures.