Targa posts record Q1 adjusted EBITDA of $1.18B, up 22% YoY; dividend increased 33%

Targa Resources Corp.

2025-Q1 EPS reported $0.91 revenue$4,561,500,000

Record Q1 adjusted EBITDA $1,178.5M vs $966.2M YoY (+22%); net income $270.5M vs $275.2M.
Annualized dividend raised 33% to $4.00/sh; Q1 dividend $1.00/sh payable May 15, 2025.
Repurchased $214M in common shares through April; $890.5M remaining under buyback program.
FY2025 adjusted EBITDA guidance unchanged at $4.65B-$4.85B; net growth capex $2.6B-$2.8B.
Issued $2.0B in senior notes (5.55% due 2035, 6.125% due 2055) to fund Badlands buyout and general purposes.

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