Targa Resources (TRGP) Q2 2026 Earnings Call Transcript

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DATE

Thursday, Aug. 6, 2026 astatine 11:00 a.m. ET

CALL PARTICIPANTS

• Vice President, Investor Relations and Fundamentals - Tristan Richardson

• Chief Executive Officer - Matt Meloy

• President - Jennifer Kneale

• Chief Financial Officer - William Byers

• President, Gathering and Processing - Pat McDonie

• President, Logistics and Transportation - Benjamin Branstetter

• Chief Commercial Officer - Bobby Muraro

Full Conference Call Transcript

Operator: Good day, and convey you for lasting by. Welcome to the Targa Resources Corp. Second Quarter 2026 Earnings Webcast and Presentation. [Operator Instructions] Please beryllium advised that today's league is being recorded. I would present similar to manus the league implicit to your talker today, Tristan Richardson, Vice President, Investor Relations and Fundamentals. Please spell ahead.

Tristan Richardson: Thanks, operator. Good morning, and invited to the Second Quarter 2026 Earnings Call for Targa Resources Corp. The 2nd 4th net release, a supplement presumption and our latest capitalist presumption are disposable successful the Investors conception of our website astatine targaresources.com. Statements made during this telephone that whitethorn see Targa's expectations oregon predictions should beryllium considered forward-looking statements wrong the meaning of Section 21E of the Securities Exchange Act of 1934. Actual results could disagree materially from those projected successful forward-looking statements. For a treatment of factors that could origin existent results to differ, delight notation to our latest SEC filings.

Our speakers for the telephone contiguous volition beryllium Matt Meloy, Chief Executive Officer; Jen Kneale, President; and Will Byers, Chief Financial Officer. Additionally, members of Targa's elder absorption volition beryllium disposable for Q&A, including Pat McDonie, President, Gathering and Processing; Ben Branstetter, President, Logistics and Transportation; and Bobby Muraro, Chief Commercial Officer. I'll present crook the telephone implicit to Matt.

Matt Meloy: Thanks, Tristan, and bully morning. We had different large 4th wherever we reported galore fiscal and operational records. Adjusted EBITDA accrued 38% year-over-year. We reported grounds volumes again successful the Permian, up much than 900 cardinal cubic feet per time from a twelvemonth agone and up 450 cardinal cubic feet per time compared to Q1. That's astir 2 plants worthy of state successful 1 quarter. This beardown Permian maturation drove grounds volumes crossed our downstream systems, including NGL transportation, fractionation and LPG export. Our customers stay progressive and the commercialized work offering we've built the past galore years continues to summation traction with our customers.