---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-021492"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T08:31:58.249570+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Targa Q3 adjusted EBITDA record $768.6M; announces new plant, Daytona NGL pipeline; FY guidance unchanged

## Summary
- Q3 net income $193.1M vs $182.2M YoY; record adjusted EBITDA $768.6M, +52% YoY, +15% sequentially.
- Declared $0.35/share quarterly dividend ($1.40 annualized), paid Nov 15, 2022; repurchased 1.16M shares for $72.9M.
- Announced 275 MMcf/d Wildcat II plant (Permian) by Q1 2024 and Daytona NGL Pipeline (~$650M) by end 2024, owned 75% by Targa.
- FY 2022 adjusted EBITDA guidance unchanged at $2.85-2.95B; growth capex raised to $1.1-1.2B to include new projects.
- Permian natural gas inlet volumes record 4.1 Bcf/d; total liquidity $1.8B as of Sep 30, 2022.

## SEC filing metadata
- accession: 0000950170-22-021492
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000095017022021492/0000950170-22-021492-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000095017022021492/trgp-20221103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-021492
- JSON: https://secwatch.observer/filing/0000950170-22-021492.json
- Plain text: https://secwatch.observer/filing/0000950170-22-021492.txt

## Key facts
- Earnings Releases
  Targa Resources Corp. reported three months ended September 30, 2022 results: net income $193.1 million. Guidance reaffirmed.
  - Period: three months ended September 30, 2022
  - Net income: $193.1 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Third quarter 2022 net income attributable to Targa Resources Corp. was $193.1 million compared to $182.2 million for the third quarter of 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389170/000095017022021492/0000950170-22-021492-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.