secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0000950170-22-021492
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017022021492/0000950170-22-021492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017022021492/trgp-20221103.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-021492

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