The company said Targa Resources Corp. net income attributable to Targa was $387.4 million for Q3 2024, compared with $220.0 million for Q3 2023. It said adjusted EBITDA was $1,069.7 million for Q3 2023, compared with $840.2 million for the same period a year earlier.

1. 01

   The company said Targa Resources Corp. net income attributable to Targa was $387.4 million for Q3 2024, compared with $220.0 million for Q3 2023. It said adjusted EBITDA was $1,069.7 million for Q3 2023, compared with $840.2 million for the same period a year earlier.

2. 02

   Targa said sales of commodities fell 5% to $3,217.0 million for Q3 2024, fees from midstream services rose 22% to $634.8 million, and income from operations was $728.2 million.

3. 03

   Targa Resources said it repurchased 1,150,107 shares of common stock for a total net cost of $167.9 million in Q3 2024. It said $1.1 billion remained under its Share Repurchase Programs as of September 30, 2024. The company also declared a Q3 quarterly cash dividend of $0.75 per share.

4. 04

   The company said it estimates full-year 2024 adjusted EBITDA will be above the top end of its $3.95 billion to $4.05 billion range. It also said it plans to recommend to the Board of Directors a common dividend increase to $1.00 per share, or $4.00 annualized, starting in Q1 2025.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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