# Targa Raises 2026 Adjusted EBITDA Outlook to at Least $6 Billion

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/50673
Published: 2026-11-07T07:46:25.000Z
Updated: 2026-11-07T07:46:25.000Z
Section: Business

> The company posted $4.51 billion in adjusted EBITDA for the first nine months of 2026. Its planned Train 14 fractionator in Texas is targeted to start operating in early 2029.

Targa Resources Corp. raised its 2026 adjusted EBITDA outlook to at least $6 billion and set a first-quarter 2029 target for operations at its planned Train 14 natural gas liquids fractionator in Mont Belvieu, Texas.

The new full-year outlook is above the range of $5.7 billion to $5.9 billion Targa gave after its second-quarter results. Adjusted EBITDA is a non-GAAP financial measure, and Targa cautions that it should not replace measures prepared under generally accepted accounting principles.

Targa recorded $1,504.3 million in adjusted EBITDA for the quarter ended Sept. 30, up 18% from $1,274.8 million in the same quarter of 2025. The third-quarter figure was down 6% from the second quarter.

For the first nine months of 2026, adjusted EBITDA totaled $4,510.1 million, up 25% from $3,616.3 million in the same period last year. Record Permian inlet volumes, natural gas liquids transportation and fractionation volumes were offset by lower marketing and liquefied petroleum gas export margins in the third quarter.

Train 14 is planned to process 150,000 barrels per day. Targa maintained its 2026 estimates of approximately $5 billion in net growth capital expenditures and $250 million in net maintenance capital.