TRGP - Targa Resources Corp. (TRGP) Q1 2024 Earnings Call Transcript
2024-05-02 17:20:26 ET
Targa Resources Corp. (TRGP)
Q1 2024 Earnings Conference Call
May 02, 2024, 11:00 AM ET
Company Participants
Sanjay Lad - VP, Finance & IR
Matt Meloy - CEO
Jen Kneale - CFO
Scott Pryor - President, Logistics and Transportation
Pat McDonie - President, Gathering and Processing
Bobby Muraro - Chief Commercial Officer
Conference Call Participants
Michael Blum - Wells Fargo
Theresa Chen - Barclays
Jeremy Tonet - JPMorgan Securities
John Mackay - Goldman Sachs
Spiro Dounis - Citi
Jacob Nivasch - Truist Securities
Neel Mitra - Bank of America
Keith Stanley - Wolfe Research
Tristan Richardson - Scotiabank
Sunil Sibal - Seaport Global
Zack Van Everen - TPH & Company
Presentation
Operator
Thank you for standing by. Welcome to the Targa Resources First Quarter 2024 Earnings Webcast and Presentation. [Operator Instructions] As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Sanjay Lad, Vice President of Finance and Investor Relations. Please go ahead, sir.
Sanjay Lad
Thanks, Jonathan. Good morning, and welcome to the First Quarter 2024 Earnings Call for Targa Resources Corp. The first quarter earnings release, along with the first quarter earnings supplement presentation for Targa that accompany our call, are available on our website at targaresources.com in the Investors section. In addition, an updated investor presentation has also been posted to our website.
Statements made during this call that might include Targa's expectations or predictions should be considered forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our latest SEC filings.
Our speakers for the call today will be Matt Meloy, Chief Executive Officer; and Jen Kneale, Chief Financial Officer. Additionally, the following senior management team members will be available for Q&A; Pat McDonie, President, Gathering and Processing; Scott Pryor, President, Logistics and Transportation; and Bobby Muraro, Chief Commercial Officer.
I will now turn the call over to Matt.
Matt Meloy
Thanks, Sanjay, and good morning.
We are proud of our first quarter results as we continue to execute across the organization to deliver another quarter of record adjusted EBITDA, Permian volumes, and LPG export volumes, along with a 50% increase to our common dividend per share and $124 million of common share repurchases.
For the quarter, we really benefited from strong back half of the quarter Permian volume growth. January was impacted by operational upsets associated with harsh weather. From there, volumes significantly increased throughout the quarter, which helped drive record results and sets us up well looking forward....
Targa Resources Corp. (TRGP) Q1 2024 Earnings Call Transcript