Targa Reports Record 2023 Adj. EBITDA $3.53B; Guides 2024 $3.7-3.9B, Dividend to $3.00

Targa Resources Corp.

2023-FY EPS reported $3.66 revenue$16,060,300,000

Net income Q4 $299.6M (vs $318M); full year net income record $1,345.9M (vs $1,195.5M).
Full year adj. EBITDA $3,530M (+22% YoY); Q4 adj. EBITDA $959.9M (+14% sequentially).
Record 2023 share repurchases $373.7M; repurchase authorization remaining $770.1M.
Recommending dividend increase to $3.00/share annualized (from $2.00), payable Q1 2024 in May.
2024 adj. EBITDA guidance $3.7-3.9B; 2025 net growth capex ~$1.4B, expecting significant free cash flow.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Targa Resources Corp. reported fourth quarter and full year 2023 results: net income Fourth quarter 2023 net income attributable to Targa Resources Corp. was $299.6 million compared to $318.0 million for t. Guidance initiated.

Period: fourth quarter and full year 2023
Net income: Fourth quarter 2023 net income attributable to Targa Resources Corp. was $299.6 million compared to $318.0 million for t
Guidance: initiated
Result: reported results

Exact text from the filing

Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported fourth quarter and full year 2023 results. Fourth quarter 2023 net income attributable to Targa Resources Corp. was $299.6 million compared to $318.0 million for the fourth quarter of 2022. For full year 2023, net income attributable to Targa Resources Corp. was a record $1,345.9 million compared to $1,195.5 million for 2022.

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Source: SEC EDGAR

accession 0000950170-24-015593

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