Form 8-K · Current Report · Filed 2024-08-01
Targa Resources Announces Record Second Quarter 2024 Results and New Share Repurchase Program
Targa Resources Corp. reported a record second quarter 2024 with an adjusted EBITDA of $984.3 million, showing a 25% increase year-over-year. The company also announced a new share repurchase program of up to $1.0 billion, in addition to the remaining $291.3 million from the existing program. Furthermore, Targa updated its full-year 2024 outlook for adjusted EBITDA and net growth capital expenditures, and disclosed the repayment of its $500.0 million term loan facility in May 2024.
- Filer
- Targa Resources Corp. TRGP · NYSE
- Filed
- Accession
- 0000950170-24-088922
- CIK
- 0001389170
- Signal
- Medium impactEnergy
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Regulation FD Disclosure
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$135.28
Next session
-3.5%
Since filing
+99.9%
Latest close
$270.37
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Precedent
Previous filings from TRGP reporting the same item, with the next session's move:
Exhibits (1)
About Targa Resources Corp.
Targa Resources Corp. is a prominent midstream energy company focused on the processing, storage, transportation, and marketing of natural gas and natural gas liquids (NGLs). It plays a vital role in the energy sector by facilitating the efficient flow of these critical resources from production sites to end users. Targa Resources Corp. provides a variety of essential services including gathering and processing, which involves collecting natural gas from wells, separating impurities, and preparing it for transport. Additionally, the company is involved in fractionation, which divides mixed NGLs into individual hydrocarbons such as propane, butane, and ethane. Targa's operations are key to energy infrastructure, supporting industries that rely on natural gas and NGLs for power generation, manufacturing, and heating. With a significant presence in major U.S. shale basins, Targa Resources Corp. contributes to the country's energy supply chain stability and efficiency, making it a strategic player in the integration and distribution of energy resources across multiple markets.
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