Targa Resources Corp. (TRGP) reported first quarter net income attributable to Targa Resources of $270.5 million compared to $275.2 million for the first quarter of 2024. Net income attributable to common shareholders was $200.0 million compared to $275.2 million. Adjusted EBITDA was $1.2 billion, a 22% increase year over year. First quarter total revenues were $4.56 billion, flat with last year.
Targa continues to estimate 2025 adjusted EBITDA to be between $4.65 billion and $4.85 billion. Targa's estimate for 2025 net growth capital expenditures remains unchanged in a range of $2.6 billion to $2.8 billion, and estimate for net maintenance capital expenditures also remains unchanged at approximately $250 million.
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