William Byers

Chief Financial Officer, Targa Resources

Search every verified William Byers interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. William Byers, Chief Financial Officer of Targa Resources, discussed the company's financial performance and strategic actions during recent earnings calls. In the second quarter 2026 call, he reported adjusted EBITDA of $1.603 billion, a 14% increase from the first quarter, attributing the rise to higher optimization opportunities, marketing business contributions, and record volumes across operations including Permian GMP, NGL transportation, fractionation, and LPG export. He noted that full-year 2026 adjusted EBITDA was expected to be towards the top end of the company's guidance range, with net growth capital estimated at approximately $4.5 billion and maintenance capital at $250 million. Byers also mentioned that the company had $3.22 billion in available liquidity and a proforma consolidated leverage ratio of about 3.4 times, and that the maturity of its accounts receivable securitization facility was extended to July 30th. On the fourth quarter 2024 call, Byers explained the company's decision to buy out Blackstone's stake in the Badlands joint venture, stating that the preferred had a low double-digit cost with roughly $180 million in fixed annual charges, and that refinancing with lower-cost debt would provide more than $80 million in annual cash savings while having minimal impact on the leverage ratio. He also outlined expectations for full-year 2025 adjusted EBITDA between $4.65 billion and $4.85 billion, a 15% increase over 2024 based on the midpoint, driven by continued volume growth in the Permian Basin and contributions from the Daytona NGL pipeline and trains 9 and 10. Byers noted that the company was evaluating new processing plant sites in the Delaware and Midland regions, with four plants expected to come online in 2026 and two in 2025.