Targa Resources Q2 2026 adjusted EBITDA record $1.6B, up 38% YoY; raises FY guidance to top end of range

Targa Resources Corp.

Net income $765M ($1.25 dividend declared, 25% increase YoY); adjusted EBITDA $1,603M vs $1,163M YoY.
Record Permian inlet, NGL transportation, fractionation, and LPG export volumes in Q2.
Full-year 2026 adjusted EBITDA now expected towards top end of $5.7B-$5.9B range; capex unchanged at ~$4.5B.
Commenced Train 11 fractionator, Delaware Express NGL Pipeline expansion, and East Driver plant in Q2.
Repurchased 308,102 shares at ~$259.93 for $80M; $1.24B remaining under buyback program.

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