Targa Resources posted Q2 net income attributable to common shareholders of USD 765 million, up 22% year over year.
Adjusted EBITDA (non-GAAP) rose 38% from a year earlier to USD 1.6 billion, up 14% from Q1, driven by higher marketing margin and record volumes.
Revenue increased 4% from a year earlier to USD 4.44 billion, while total consolidated debt stood at USD 19.58 billion at June 30.
Declared a quarterly dividend of USD 1.25 a share, a 25% increase year over year; repurchased USD 80 million of stock in Q2.
Started up Train 11 and the Delaware Express NGL Pipeline expansion; forecast full-year adjusted EBITDA toward the top of its USD 5.7 billion-USD 5.9 billion range.
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