Summary
Targa Resources Corp. (TRGP) filed an 8-K on May 7, 2020, to report its financial results for the first quarter ended March 31, 2020. The report primarily directs investors to an accompanying press release (Exhibit 99.1) which contains the detailed financial and operational performance for the period. A conference call was also scheduled for the same day to discuss these results. While the 8-K itself does not contain the detailed financial figures, it explicitly mentions the use of non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA. The company emphasizes that these non-GAAP measures should be considered alongside, and not as alternatives to, GAAP measures like net income or cash flow from operations. Investors are encouraged to review the furnished press release for a comprehensive understanding of the company's performance and its reconciliation of non-GAAP to GAAP figures.
Key Highlights
- 1Targa Resources announced Q1 2020 financial results on May 7, 2020, via an 8-K filing.
- 2The primary source for detailed Q1 2020 financial data is the press release furnished as Exhibit 99.1.
- 3A conference call was scheduled for May 7, 2020, to discuss the Q1 results.
- 4The company utilizes and reports on several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
- 5Investors are cautioned to consider these non-GAAP measures in conjunction with GAAP financial results.
- 6Reconciliations between non-GAAP and comparable GAAP measures are provided in the press release.