8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (Aug 6, 2020)

Filed August 6, 2020For Securities:TRGP

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.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide Targa Resources Corp.'s financial results for the second quarter of 2020, as communicated in their earnings press release dated August 6, 2020.

The filing mentions several non-GAAP financial measures used in the press release: distributable cash flow, gross margin, operating margin, and adjusted EBITDA.

The detailed financial results are presented in the press release furnished as Exhibit 99.1 to this 8-K filing. The company also held a conference call on August 6, 2020, to discuss these results.

When information is furnished under Item 2.02, it means the company is providing it to the SEC, but it is not subject to the same liability provisions as 'filed' documents under Section 18 of the Exchange Act. It also means this information will not automatically be incorporated into future SEC filings like the company's registration statements or reports unless specifically stated.