---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-037533"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T07:39:06.224131+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-037533
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000095017023037533/0000950170-23-037533-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000095017023037533/trgp-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-037533
- JSON: https://secwatch.observer/filing/0000950170-23-037533.json
- Plain text: https://secwatch.observer/filing/0000950170-23-037533.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389170/000095017023037533/0000950170-23-037533-index.htm

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