From GlobeNewswire: 2025-05-01 06:00:00

Targa Resources Corp. reported a net income of $270.5 million for the first quarter of 2025, slightly lower than the same period in 2024. Adjusted EBITDA was $1,178.5 million, a 22% increase year over year. The company repurchased $214 million of common shares and declared an annual dividend of $4.00 per share for 2025.

In the first quarter of 2025, Targa repurchased 651,163 shares of its common stock for $124.9 million. Total consolidated debt was $16,208.7 million as of March 31, 2025. The company completed a public offering to fund the repurchase of outstanding equity and for general corporate purposes.

Targa’s adjusted EBITDA for the first quarter of 2025 increased by 5% compared to the fourth quarter of 2024. The growth was driven by contributions from the Badlands transaction and higher marketing margin. Winter weather events impacted volumes across Targa’s systems, but Permian volumes have increased after the first quarter.

The Gathering and Processing segment experienced an 8% increase in operating margin, driven by higher natural gas inlet volumes in the Permian. The Logistics and Transportation segment saw a 22% increase in operating margin due to higher pipeline transportation and fractionation margin. Other segments saw a negative adjusted operating margin.

Adjusted EBITDA, adjusted cash flow from operations, and adjusted free cash flow are key financial measures for Targa. The company’s estimate for full-year 2025 adjusted EBITDA is between $4.65 billion and $4.85 billion. Targa continues to focus on growth projects to support increased volumes across its operations.

Targa’s forward-looking statements include projected financial performance, capital spending, and dividends. Risks and uncertainties, such as market conditions and regulatory changes, could impact the company’s results. Targa encourages investors to monitor its disclosures through official channels. Contact Targa Investor Relations for more information.



Read more at GlobeNewswire:: Targa Resources Corp. Reports Record First Quarter 2025