Summary
Targa Resources Corp. (TRGP) announced its first-quarter 2022 financial results via an 8-K filing on May 5, 2022. The report primarily references an accompanying press release (Exhibit 99.1) which details the company's performance for the three months ended March 31, 2022. Investors can anticipate discussions on key financial metrics, including Adjusted EBITDA, distributable cash flow, adjusted free cash flow, and adjusted operating margin (segment), which are presented alongside their GAAP equivalents with provided reconciliations. A conference call was scheduled for the same day to delve deeper into these results. The company emphasizes that its non-GAAP financial measures, while valuable for analysis, should be considered in conjunction with, and not as a replacement for, GAAP-based measures, noting their potential limitations.
Key Highlights
- 1Targa Resources Corp. reported Q1 2022 financial results on May 5, 2022.
- 2The filing incorporates by reference a detailed press release (Exhibit 99.1) containing the financial results.
- 3Key non-GAAP financial measures discussed include Adjusted EBITDA, distributable cash flow, adjusted free cash flow, and adjusted operating margin (segment).
- 4Reconciliations between non-GAAP and GAAP financial measures are provided.
- 5A conference call was held on May 5, 2022, to discuss the Q1 2022 results.
- 6The company advises investors to consider non-GAAP measures alongside GAAP measures due to potential limitations.