Targa Q2 2023 adj EBITDA $789.1M up 18% YoY; net income $329.3M; repurchased $149M in shares

Targa Resources Corp.

2023-Q2 EPS reported $1.46 revenue$7,924,200,000

Adjusted EBITDA $789.1M vs $666.4M YoY (+18%); net income $329.3M vs $596.4M YoY (includes $435.9M gain in 2022).
Record Permian natural gas inlet, NGL pipeline transportation and fractionation volumes in Q2.
Repurchased $149M of common stock in Q2 at weighted avg $71.37; $942.7M remains under $1B program.
Declared Q2 dividend $0.50/share ($2.00 annualized); paid Aug 15, 2023.
Maintained 2023 adj EBITDA guidance $3.5B-$3.7B and capex $2.0B-$2.2B; announced two new Permian gas plants (Greenwood II, Bull Moose) for 2024-2025.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Targa Resources Corp. reported second quarter 2023 results: net income $329.3 million. Guidance reaffirmed.

Period: second quarter 2023
Net income: $329.3 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Second quarter 2023 net income attributable to Targa Resources Corp. was $329.3 million compared to $596.4 million for the second quarter of 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Targa Resources Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-037533

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