Targa Resources (NYSE: TRGP) reported Q3 Revenue for the quarter at $3.85 billion versus the consensus estimate of $4.31 billion.

2024 and 2025 Outlook

Targa’s adjusted EBITDA and growth capital projections are trending higher than previously estimated from the acceleration of spending on infrastructure to handle additional volume growth. The Company is in the middle of its planning process, and consistent with previous years, Targa plans to detail its full year 2025 operational and financial outlook in February 2025 in conjunction with its fourth quarter 2024 earnings announcement. For 2024, the Company estimates full year adjusted EBITDA to be above the top end of its $3.95 billion to $4.05 billion range. Targa continues to anticipate a meaningful inflection in 2025 adjusted free cash flow generation relative to 2024.

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