---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017422"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T21:24:05.751229+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-017422
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000095017023017422/0000950170-23-017422-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000095017023017422/trgp-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017422
- JSON: https://secwatch.observer/filing/0000950170-23-017422.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017422.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389170/000095017023017422/0000950170-23-017422-index.htm

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