Where can I find the specific financial results for Targa Resources for Q4 and FY 2021?

The specific financial results for the three months and year ended December 31, 2021, are detailed in the press release furnished as Exhibit 99.1 to the 8-K filing dated February 24, 2022. This exhibit is incorporated by reference into the report.

What are the key non-GAAP financial measures Targa Resources uses?

Targa Resources uses several non-GAAP financial measures, including Adjusted EBITDA, distributable cash flow, adjusted free cash flow, and adjusted operating margin (segment). The company provides reconciliations of these measures to their most directly comparable GAAP measures in its earnings release.

Are the non-GAAP financial measures presented in the earnings release considered reliable alternatives to GAAP?

The company states that its non-GAAP financial measures should not be considered as alternatives to GAAP measures and have important limitations as analytical tools. They are provided for informational purposes and alongside GAAP measures.

Is this 8-K filing considered 'filed' for legal purposes, and will it be incorporated into future filings?

The information furnished under Item 2.02 of this 8-K, including Exhibit 99.1, is generally not considered 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934. It will not be incorporated by reference into any future SEC filings unless Targa Resources specifically identifies it as such.

TRGP 8-K: Earnings & Results

Summary

Targa Resources Corp. (TRGP) filed an 8-K on February 24, 2022, to report its financial results for the fourth quarter and full year ended December 31, 2021. The filing includes a press release (Exhibit 99.1) detailing these results and referencing a conference call held the same day. Investors should note the use of non-GAAP financial measures, such as Adjusted EBITDA, distributable cash flow, adjusted free cash flow, and adjusted operating margin, which are provided alongside GAAP measures with reconciliations for analytical purposes. While the 8-K itself does not provide the specific financial figures, it serves as the official notification and a gateway to the detailed earnings release. Investors are directed to Exhibit 99.1 for comprehensive performance data and segmental operating information. The company emphasizes that these non-GAAP measures, while useful, have limitations and should not be considered as direct replacements for GAAP-based financial reporting.

Key Highlights

1Targa Resources announced Q4 and full-year 2021 financial results via an 8-K filing on February 24, 2022.
2The report includes a press release (Exhibit 99.1) with detailed financial and operational performance for the periods ended December 31, 2021.
3A conference call was held on February 24, 2022, to discuss these financial results.
4The company utilized and provided reconciliations for several non-GAAP financial measures, including Adjusted EBITDA, distributable cash flow, and adjusted free cash flow.
5Investors are directed to the furnished press release (Exhibit 99.1) for specific financial figures and segmental analysis.
6The 8-K filing notes that the furnished information, including Exhibit 99.1, is not considered 'filed' for Section 18 purposes and won't be incorporated into other SEC filings unless explicitly stated.

Targa Resources Corp. 8-K Report, Financial Results (Feb 24, 2022)

Summary

Key Highlights

Frequently Asked Questions