Targa Resources Corp (MEX:TRGP)

MXN 2915 0 (0%) Market Cap: 637.27 Bil Enterprise Value: 904.53 Bil PE Ratio: 30.89 PB Ratio: 13.03 GF Score: 51/100

Q2 2024 Targa Resources Corp Earnings Call Transcript

Aug 01, 2024 / 03:00PM GMT

Release Date Price: MXN2398.5

Transcript 10-Q8-K

Key Points

Positve

Record quarterly adjusted EBITDA of $984 million, a 2% increase over the first quarter.
Record volumes in the Permian Basin, driving significant growth in NGL transportation and fractionation volumes.
Successful execution of $355 million in common share repurchases, reflecting strong performance and outlook.
Participation in a joint venture for the Blackcomb pipeline, enhancing natural gas transportation from the Permian Basin.
Strong balance sheet with $1.6 billion of available liquidity and a consolidated net leverage ratio of 3.6x.

Negative

Hurricane Beryl impacted volumes temporarily, though the effect on the third quarter is expected to be minimal.
Increased growth capital spending estimate for 2024 to approximately $2.7 billion, up from previous forecasts.
Operational challenges due to a tight gas market in the Permian, impacting recoveries and efficiencies.
Required 10-year inspection at Galena Park reduced LPG export loading capacity in the second half of June through late July.
Higher-than-anticipated Permian volumes necessitate additional growth capital investment, impacting free cash flow.

Operator

Good day and welcome to the Targa Resources Corporation Second Quarter 2024 Earnings Webcast and Presentation. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Sanjay Lad, Vice President, Finance and Investor Relations. The floor is yours, sir.

Sanjay Lad

Targa Resources Corp - Vice President - Investor Relations

Thanks, Shari. Good morning, and welcome to the Second Quarter 2024 Earnings Call for Targa Resources Corp. The second quarter earnings release, along with the second quarter earnings supplement presentation for Targa that accompany our call are available on our website at targaresources.com in the Investors section. In addition, an updated investor presentation has also been posted to our website.

Statements made during this call that might include Targa's forward -- expectations or predictions should be considered forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Actual results could differ

Already have an account? Log in

Get the full story

Start 7-Day Free Trial

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

30-Day 100% money back guarantee

You are not charged until the trial ends. Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.