What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to announce Targa Resources Corp.'s financial results for the third quarter ended September 30, 2021, and to furnish the accompanying press release which contains detailed financial and operational information.

Where can I find the detailed financial results?

The detailed financial results and a discussion of the company's performance are available in the press release furnished as Exhibit 99.1 to this 8-K filing. A replay of the conference call discussing these results will also be available on the Company's investor website.

How should investors interpret the non-GAAP financial measures presented?

Investors should interpret the non-GAAP financial measures as supplementary information. The company provides reconciliations to GAAP measures and advises that these non-GAAP figures should not be considered alternatives to standard GAAP financial measures like net income or operating income when evaluating the company's financial health or performance.

TRGP 8-K: Earnings & Results

Q: What non-GAAP financial measures are discussed in the filing?

The filing mentions several non-GAAP financial measures, including distributable cash flow, adjusted free cash flow, adjusted gross margin, adjusted operating margin, and adjusted EBITDA. These are presented alongside reconciliations to their most directly comparable GAAP financial measures.

Summary

Targa Resources Corp. (TRGP) announced its financial results for the third quarter ended September 30, 2021, via a press release filed on November 4, 2021. The report highlights the company's performance and provides details on key financial metrics, including several non-GAAP measures. Investors are directed to the furnished press release (Exhibit 99.1) for a comprehensive overview of the quarter's financial condition and operational results. The company has scheduled a conference call for November 4, 2021, to discuss these results in further detail. A replay of the webcast will be available on their investor website. It's important to note that the press release includes non-GAAP financial measures such as distributable cash flow, adjusted free cash flow, adjusted gross margin, adjusted operating margin, and adjusted EBITDA. TRGP provides reconciliations for these non-GAAP measures to their closest GAAP equivalents, emphasizing that these should be considered alongside, not as substitutes for, GAAP measures like net income and operating income.

Key Highlights

1Targa Resources Corp. released Q3 2021 financial results on November 4, 2021.
2The filing includes a press release (Exhibit 99.1) detailing the company's financial performance for the three months ended September 30, 2021.
3A conference call was scheduled for November 4, 2021, to discuss the Q3 results, with a webcast replay available.
4The report prominently features non-GAAP financial measures, including distributable cash flow, adjusted free cash flow, adjusted gross margin, adjusted operating margin, and adjusted EBITDA.
5The company provides reconciliations of non-GAAP measures to their comparable GAAP financial measures.
6Investors are advised that non-GAAP measures should not replace GAAP measures for financial assessment.

Targa Resources Corp. 8-K Report, Financial Results (Nov 4, 2021)

Summary

Key Highlights

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