Targa Q1 adj EBITDA $941M (up 50% YoY); $1.0B buyback authorized

Targa Resources Corp.

2023-Q1 EPS reported $0.03 revenue$4,520,500,000

Net income $497M vs $88M YoY; adj EBITDA $940.6M vs $625.8M.
Quarterly dividend raised to $0.50/share ($2.00 annual); paid May 15.
Board authorized new $1.0B share repurchase program; Q1 bought $52M at $71.82.
2023 adj EBITDA guidance unchanged at $3.5-3.7B; growth capex raised to $2.0-2.2B.
New Train 10 fractionator in Mont Belvieu announced; expected ops Q1 2025.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Targa Resources Corp. reported first quarter 2023 results: net income $497.0 million. Guidance reaffirmed.

Period: first quarter 2023
Net income: $497.0 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Targa Resources Corp. Reports First Quarter 2023 Financial Results HOUSTON – May 4, 2023 - Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported first quarter 2023 results. First quarter 2023 net income attributable to Targa Resources Corp. was $497.0 million compared to $88.0 million for the first quarter of 2022.

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Targa Resources Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-017422

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