8-KEarnings & ResultsExhibits & Filings

Targa Resources Corp. 8-K Report, Financial Results (May 6, 2021)

Filed May 6, 2021For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) announced its first-quarter 2021 financial results on May 6, 2021, via an 8-K filing. The report primarily directs investors to a furnished press release (Exhibit 99.1) detailing these results and a subsequent conference call. Investors should note that the company utilizes several non-GAAP financial measures, including distributable cash flow, free cash flow, gross margin, operating margin, and adjusted EBITDA, which are reconciled to their GAAP equivalents in the provided materials. While specific financial figures are not detailed within the 8-K itself, the filing signifies the release of Q1 2021 operational and financial performance data. Investors are encouraged to review the full press release for comprehensive details on the company's performance, strategic initiatives, and outlook. The use of non-GAAP measures is standard practice for many energy infrastructure companies, and their reconciliation to GAAP metrics is crucial for a complete understanding of the company's financial health.

Key Highlights

  • 1Targa Resources Corp. reported its Q1 2021 financial results on May 6, 2021.
  • 2The 8-K filing incorporates by reference a press release (Exhibit 99.1) with detailed financial results.
  • 3A conference call was scheduled for May 6, 2021, to discuss the Q1 2021 results.
  • 4The company uses non-GAAP financial measures such as distributable cash flow, free cash flow, gross margin, operating margin, and adjusted EBITDA.
  • 5Reconciliations of non-GAAP to GAAP financial measures are provided in the press release.
  • 6Investors should refer to the furnished press release for specific financial performance data and operational updates.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Targa Resources Corp.'s financial results for the three months ended March 31, 2021, and to furnish the accompanying press release which contains the detailed financial and operational information.

The specific financial results for Q1 2021 are detailed in the press release furnished as Exhibit 99.1 to this 8-K filing. Investors should consult this press release for comprehensive figures and analysis.

The non-GAAP financial measures mentioned include distributable cash flow, free cash flow, gross margin, operating margin, and adjusted EBITDA. These measures are often used by management and investors to assess the company's operational performance and cash-generating ability, as they can provide a clearer view of underlying business trends by excluding certain non-cash or non-recurring items. Reconciliations to GAAP measures are provided for comparison.

No, the information furnished in this Item 2.02 and Exhibit 99.1 is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor will it be incorporated into other SEC filings unless specifically stated.