secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0001564590-22-027898
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000156459022027898/0001564590-22-027898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000156459022027898/trgp-8k_20220804.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-027898

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