Quarterly ResultAug 6, 2026, 06:02 AM
Targa Resources Q2 Net Income $765M, Adj. EBITDA $1.6B (+38%)
AI Summary
Targa Resources Corp. reported strong second quarter 2026 results, with net income attributable to the company increasing 22% year-over-year to $765 million. Adjusted EBITDA reached a record $1,603 million, marking a 38% increase from the prior year. The company also announced a 25% increase in its quarterly cash dividend to $1.25 per common share and repurchased $80 million of common stock. Due to robust performance, Targa raised its full-year 2026 adjusted EBITDA guidance to the top end of its $5.7 billion to $5.9 billion range.
Key Highlights
- Net income attributable to Targa Resources Corp. was $765 million, up 22% YoY.
- Adjusted EBITDA reached a record $1,603 million, a 38% increase year-over-year.
- Declared a quarterly cash dividend of $1.25 per common share, a 25% increase YoY.
- Repurchased 308,102 shares for $80 million at an average price of $259.93.
- Record Permian inlet, NGL transportation, fractionation, and LPG export volumes.
- Commenced operations of Train 11 fractionator, Delaware Express NGL Pipeline expansion, and East Driver processing plant.
- Full year 2026 adjusted EBITDA estimate raised to the top end of $5.7B to $5.9B range.
- Net growth capital expenditures for 2026 remain estimated at $4.5 billion.
Price Impact
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