Targa Resources Q1 2025 Earnings Report
Key Takeaways
Targa Resources Corp. reported record adjusted EBITDA of $1,178.5 million for the first quarter of 2025, a 22% increase compared to the prior year period, driven by growth in the Permian Basin and higher marketing margin. Net income attributable to Targa Resources Corp. slightly decreased to $270.5 million compared to $275.2 million in the first quarter of 2024. Volumes were negatively impacted by winter weather events and planned maintenance.
Record first quarter 2025 adjusted EBITDA of $1.2 billion, a 22% increase year over year
Repurchased $214 million of common shares through April 2025
Declared an annual common dividend of $4.00 per share for 2025, a 33% increase year over year
Continue to estimate full year 2025 adjusted EBITDA between $4.65 billion and $4.85 billion
Targa Resources
Targa Resources
Forward Guidance
Targa continues to estimate full year 2025 adjusted EBITDA between $4.65 billion and $4.85 billion and net growth capital expenditures between $2.6 billion and $2.8 billion. This outlook is supported by forecasted growth across the Permian G&P footprint, expected to drive record volumes in 2025.
Positive Outlook
- Full year 2025 adjusted EBITDA estimate maintained at $4.65 billion to $4.85 billion.
- Forecasted growth across the Permian Gathering and Processing footprint.
- Expected record Permian, NGL pipeline transportation, fractionation, and LPG export volumes in 2025.
- Growth is weighted to the second half of 2025.
- Current and expected producer activity levels support meaningfully increasing volumes through 2026.