Targa Resources Raises FY24 Adj. EBITDA Outlook By 5% To $3.95B-$4.05B
Portfolio Pulse from Benzinga Newsdesk
Targa Resources has raised its FY24 adjusted EBITDA outlook by 5% to $3.95B-$4.05B due to strong volume growth across its integrated assets. The company also announced increased capital expenditures for 2024 to support this growth.
August 01, 2024 | 10:06 am
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Targa Resources has increased its FY24 adjusted EBITDA outlook by 5% to $3.95B-$4.05B, driven by strong volume growth. The company also plans to increase capital expenditures to support this growth.
The increase in adjusted EBITDA outlook and the planned capital expenditures indicate strong business growth and confidence in future performance. This is likely to positively impact TRGP's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100