---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-174913"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T17:18:02.065232+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Targa Q2 adj. EBITDA $1.16B (+18% YoY); new $1B buyback authorized

## Summary
- Q2 net income $629.1M (vs $298.5M); adj. EBITDA $1,163M, +18% YoY.
- Record Permian and NGL transport volumes; adj. EBITDA flat sequentially despite fractionation turnaround.
- New $1.0B share repurchase program authorized (Aug 2025); adds to $566.2M remaining from prior program.
- FY2025 adj. EBITDA guidance $4.65B-$4.85B; growth capex estimate raised to ~$3.0B on project accelerations.
- Quarterly dividend $1.00/share payable Aug 15; Q2 repurchases $324M at $165.86 avg price.

## SEC filing metadata
- accession: 0001193125-25-174913
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000119312525174913/0001193125-25-174913-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000119312525174913/trgp-20250807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-174913
- JSON: https://secwatch.observer/filing/0001193125-25-174913.json
- Plain text: https://secwatch.observer/filing/0001193125-25-174913.txt

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