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Targa Resources (TRGP)
NYSE:TRGP
Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.92Last Year’s EPS
1.24Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 24.74%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong positive sentiment with record-breaking financial results and significant growth in key operational areas. The announcement of new projects and increased shareholder returns further emphasized the company's positive outlook. However, there were some challenges related to commodity prices and weather impacts that were noted.Company Guidance
During the Targa Resources Corp. Fourth Quarter 2024 Earnings Conference Call, the company provided optimistic guidance for 2025 and beyond, driven by significant growth in their Permian operations. In 2024, Targa achieved record adjusted EBITDA of $4.1 billion, a 17% increase from 2023, and anticipates over $600 million in EBITDA growth for 2025. The company's capital expenditures are expected to range between $2.6 billion to $2.8 billion for 2025, with significant investments in new projects, including the Delaware Express pipeline and new fractionators. Targa also plans to recommend a 33% increase in their annualized 2025 common dividend per share, building on a 50% increase in 2024 dividends and $755 million in share repurchases. They expect to maintain a leverage ratio within their target range of 3 to 4 times, supported by a strong balance sheet. With projected Permian GMP volume growth and strategic infrastructure expansions, Targa is positioned to deliver continued shareholder value and operational success in the coming years.Record-Breaking Financial Performance
Targa Resources reported a record adjusted EBITDA of $4.1 billion for 2024, which is a 17% increase over 2023, driven by strong financial and operational metrics despite weak commodity prices.
Significant Growth in Permian Volumes
Permian GMP volumes grew by 14% year-over-year in 2024, exceeding expectations due to increased producer activity and performance, higher gas-to-oil ratios, and commercial success.
Successful Commercial Projects and Expansions
Targa announced three new projects: the Delaware Express pipeline, Train 12 fractionator, and an LPG export expansion at Galena Park, supporting continued growth and increased capacity.
Increased Shareholder Returns
Over a 50% increase in the common dividend for 2024 compared to 2023, along with a record $755 million in common share repurchases, demonstrating strong capital return to shareholders.
Positive Outlook for 2025 and Beyond
Estimated adjusted EBITDA for 2025 is between $4.65 billion and $4.85 billion, indicating a 15% increase over 2024, with strong volume growth expected in 2026 from new plants coming online.
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TRGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TRGP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $168.58 | $176.75 | +4.85% |
| Aug 01, 2024 | $134.18 | $134.99 | +0.60% |
| May 02, 2024 | $110.87 | $111.44 | +0.51% |
| Feb 15, 2024 | $86.57 | $91.40 | +5.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Targa Resources (TRGP) report earnings?
Targa Resources (TRGP) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Targa Resources (TRGP) earnings time?
Targa Resources (TRGP) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TRGP EPS forecast?
TRGP EPS forecast for the fiscal quarter 2024 (Q4) is 1.92.
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