Summary
Targa Resources Corp. (TRGP) filed an 8-K on August 6, 2020, to report its financial results for the three months ended June 30, 2020. The filing primarily consists of an earnings press release (Exhibit 99.1) and announces a conference call to discuss these results. Investors should note that the press release includes non-GAAP financial measures such as distributable cash flow, gross margin, operating margin, and adjusted EBITDA. While these measures are common in the midstream energy sector, investors are advised to review the provided reconciliations to GAAP measures, as these non-GAAP figures should not be considered replacements for standard GAAP financial metrics. The information furnished in this 8-K, including the press release, is not deemed "filed" and will not be automatically incorporated into future SEC filings unless explicitly referenced.
Key Highlights
- 1Targa Resources reported its Q2 2020 financial results on August 6, 2020, via an 8-K filing.
- 2The filing includes an earnings press release (Exhibit 99.1) detailing the company's performance for the quarter ending June 30, 2020.
- 3A conference call was scheduled for August 6, 2020, to discuss the financial results.
- 4The press release utilizes several non-GAAP financial measures, including distributable cash flow, gross margin, operating margin, and adjusted EBITDA.
- 5Reconciliations between non-GAAP and GAAP financial measures are provided within the press release.
- 6Investors are cautioned that non-GAAP measures should be analyzed in conjunction with, not as a substitute for, GAAP-reported figures.
- 7The information provided in this 8-K is furnished and not considered 'filed' for Section 18 purposes, nor is it automatically incorporated into other SEC filings.