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Targa posts lower Q2 results but beats analyst expectations

Targa Resources Corp. on Aug. 8 reported second-quarter adjusted EBITDA of $306.5 million, a drop from $315.2 million in the prior-year period.

The S&P Global Market Intelligence consensus adjusted EBITDA estimate for the quarter was $285.5 million.

The company's distributable cash flow in the second quarter was $192.0 million, a drop from $225.1 million a year earlier.

Targa reported a net loss attributable to the company of $10.2 million, falling from an income of $109.1 million a year earlier.