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

The main purpose of this 8-K filing is to formally notify the SEC and the public about Targa Resources Corp.'s financial results for the third quarter of 2022 and to furnish the accompanying earnings press release.

Where can I find the detailed financial results?

The detailed financial results are provided in the press release furnished as Exhibit 99.1 to this 8-K filing. This exhibit is incorporated by reference.

What are non-GAAP financial measures, and why does Targa Resources use them?

Non-GAAP financial measures are performance metrics that are not calculated in accordance with Generally Accepted Accounting Principles (GAAP). Targa Resources uses measures like Adjusted EBITDA and distributable cash flow to provide investors with a clearer view of the company's underlying operational performance and cash-generating ability, often excluding certain items that management believes are not indicative of ongoing operations. Reconciliations to GAAP are provided.

Will the information in this 8-K be automatically included in future Targa Resources filings?

No, the information furnished under Item 2.02 of this 8-K, including Exhibit 99.1, is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934. It will only be incorporated by reference into future filings if Targa Resources specifically identifies it as such.

TRGP 8-K: Earnings & Results

Summary

Targa Resources Corp. (TRGP) filed an 8-K on November 3, 2022, to report its financial results for the third quarter ended September 30, 2022. The filing includes a press release detailing these results and announces a conference call for investors to discuss the performance. Investors should note that the company utilizes non-GAAP financial measures such as Adjusted EBITDA and distributable cash flow to provide further insights into its operational and financial performance, and reconciliations to GAAP measures are provided. The key takeaway for investors from this report is the disclosure of the company's quarterly performance and the availability of detailed financial information through the furnished press release (Exhibit 99.1). While the 8-K itself is brief, it serves as a notification of the earnings release and the subsequent investor call, which is where the detailed financial analysis and forward-looking statements are expected to be made.

Key Highlights

1Targa Resources Corp. announced its financial results for the third quarter of 2022.
2A press release containing the detailed financial results for the period ending September 30, 2022, was furnished as Exhibit 99.1.
3The company scheduled an investor conference call for November 3, 2022, to discuss the quarterly results.
4The press release and conference call will include non-GAAP financial measures such as Adjusted EBITDA, distributable cash flow, adjusted free cash flow, and adjusted operating margin (segment).
5Reconciliations between non-GAAP and comparable GAAP financial measures are provided.
6The furnished information is not considered 'filed' for Section 18 purposes and will not be automatically incorporated into future SEC filings unless explicitly stated.

Targa Resources Corp. 8-K Report, Financial Results (Nov 3, 2022)

Summary

Key Highlights

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