8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Feb 20, 2020)

Filed February 20, 2020For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) filed an 8-K on February 20, 2020, to report its financial results for the fourth quarter and full year ended December 31, 2019. The filing includes a press release containing key financial metrics and details about an accompanying conference call. Investors should note the Company's use of non-GAAP financial measures, such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA, which are reconciled to their GAAP equivalents within the press release. The furnished press release (Exhibit 99.1) provides the primary source of information regarding the Company's performance. While this 8-K itself does not contain new GAAP financial statements beyond what is presented in the press release, it serves as the official notification of the earnings release and the associated discussion materials. Investors are directed to the press release for a comprehensive understanding of Targa Resources' financial condition and results of operations for the period.

Key Highlights

  • 1Targa Resources announced its financial results for the three months and year ended December 31, 2019, via a press release furnished with this 8-K.
  • 2A conference call was scheduled for February 20, 2020, to discuss the reported financial results.
  • 3The press release includes non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 4Reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures are provided in the press release.
  • 5Investors are advised that these non-GAAP measures should not be considered alternatives to GAAP measures like net income or cash flow from operations.
  • 6The press release (Exhibit 99.1) is incorporated by reference into this Item 2.02.
  • 7This 8-K filing primarily serves to notify the public of the earnings release and associated discussion, with the detailed financial information contained within Exhibit 99.1.

Frequently Asked Questions

The primary purpose of this 8-K filing is to furnish Targa Resources Corp.'s press release announcing its financial results for the fourth quarter and full year ended December 31, 2019, and to notify investors about the accompanying conference call.

The detailed financial results, including specific figures for the period and reconciliations of non-GAAP measures, are located in the press release furnished as Exhibit 99.1 to this 8-K filing.

Targa Resources uses non-GAAP financial measures including distributable cash flow, gross margin, operating margin, and adjusted EBITDA, which are presented and reconciled to GAAP measures in the accompanying press release.

No, the non-GAAP financial measures are not prepared in accordance with GAAP. The press release provides reconciliations to the most directly comparable GAAP measures, and these non-GAAP measures should not be considered as alternatives to GAAP measures.