---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-027898"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2022-08-04T23:59:59+00:00"
generated_at: "2026-06-24T03:51:39.823100+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Targa Q2 net income $596.4M, adj EBITDA $666.4M; raises 2022 outlook to $2.85-2.95B

## Summary
- Net income $596.4M (incl $435.9M gain on sale of GCX Pipeline) vs $56.2M in Q2 2021.
- Adjusted EBITDA $666.4M, +6% sequentially; full-year 2022 guidance raised to $2.85-2.95B.
- Acquired Lucid Energy for $3.55B in July; funded with term loan, senior notes, revolver draw.
- Announced new 275 MMcf/d Greenwood plant (late Q4 2023) and 120 MBbl/d fractionation Train 9 (Q2 2024).
- Q2 dividend $0.35/share, paid Aug 15; repurchased 1.12M shares in Q2 at avg $66.07.

## SEC filing metadata
- accession: 0001564590-22-027898
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2022-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000156459022027898/0001564590-22-027898-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000156459022027898/trgp-8k_20220804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-027898
- JSON: https://secwatch.observer/filing/0001564590-22-027898.json
- Plain text: https://secwatch.observer/filing/0001564590-22-027898.txt

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