Targa Resources Q2 net income rises to $629.1 million; adds $1.0 billion buyback
Targa Resources reported second quarter 2025 net income attributable to the company of $629.1 million, up from $298.5 million a year earlier, and adjusted EBITDA of $1,163.0 million, up 18%. Its board approved a new $1.0 billion share repurchase program on August 4, 2025, in addition to the $566.2 million remaining under the existing program as of June 30, 2025. The company kept its full-year 2025 adjusted EBITDA estimate of $4.65 billion to $4.85 billion but raised its estimate of 2025 net growth capital expenditures to approximately $3.0 billion.
Key points
- Net income attributable to Targa Resources Corp. was $629.1 million in Q2 2025 versus $298.5 million in Q2 2024; total revenues were $4,260.1 million, up 20%.
- Adjusted EBITDA was $1,163.0 million, up from $984.3 million; the company said it was relatively flat compared with the first quarter.
- Targa repurchased $324.3 million of common stock in Q2 2025, with $566.2 million left under its $1.0 billion program as of June 30, 2025.
- A new $1.0 billion repurchase program was approved August 4, 2025; the full-year adjusted EBITDA estimate of $4.65 billion to $4.85 billion is unchanged, and net growth capital expenditures are now estimated at approximately $3.0 billion.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 07, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.