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Targa's Q2 results climb on higher liquids prices, increased volumes

Targa Resources Corp. on Aug. 9 reported second-quarter adjusted EBITDA of $326.0 million, up from $257.9 million in the prior-year period.

The S&P Global Market Intelligence consensus adjusted EBITDA estimate was $313.5 million.

Targa's distributable cash flow in the quarter was $225.1 million, an increase from $196.0 million in the prior-year period. Net income attributable to Targa amounted to $109.1 million, up from $57.6 million a year earlier.

The company attributed the earnings increase to higher NGL and condensate prices and increased volumes, among other factors.