Targa Resources Corp. (NYSE:TRGP) Q3 2023 Earnings Conference Call November 2, 2023 11:00 AM ET

Company Participants

Sanjay Lad - Vice President-Finance & Investor Relations

Matt Meloy - Chief Executive Officer

Jen Kneale - Chief Financial Officer

Pat McDonie - President-Gathering and Processing

Scott Pryor - President-Logistics and Transportation

Bobby Muraro - Chief Commercial Officer

Conference Call Participants

Theresa Chen - Barclays

Michael Blum - Wells Fargo

Spiro Dounis - Citi

Keith Stanley - Wolfe Research

Tristan Richardson - Scotiabank

Neel Mitra - Bank of America

Jeremy Tonet - JPMorgan Securities LLC

Sunil Sibal - Seaport Global

Jake Nivasch - Truist Securities

Brian Reynolds - UBS

Operator

Good day, and thank you for standing by. Welcome to the Targa Resource Corp. Third Quarter 2023 Earnings Webcast Presentation. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Sanjay Lad, Vice President of Finance and Investor Relations. Please go ahead.

Sanjay Lad

Thanks, Whitney. Good morning and welcome to the Third Quarter 2023 Earnings Call for Targa Resources Corp. Third quarter earnings release, along with the third quarter earnings supplement presentation for Targa Resources that accompany our call are available on our website at targaresources.com in the Investors section. In addition, an updated investor presentation has been posted to our website.

Statements made during this call that might include Targa Resources' 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 who will be available for the Q&A session, Pat McDonie, President, Gathering and Processing; Scott Pryor, President Logistics and Transportation; and Bobby Muraro, Chief Commercial Officer.

And with that, I'll now turn the call over to Matt.

Matt Meloy

Thanks, Sanjay and good morning. We are very proud of the efforts of our employees across the third quarter. While battling an extended stretch of hot weather, we continued to operate at a high level, demonstrated by record NGL pipeline transportation volumes, 6% higher sequential adjusted EBITDA and completion of our expansion at our LPG export facility in Galena Park, increasing our propane loading capacity by an incremental one million barrels per month.