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Targa Resources Earnings Calls
| Release date | May 07, 2026 |
| EPS estimate | $2.48 |
| EPS actual | $2.21 |
| EPS Surprise | -10.89% |
| Revenue estimate | 4.676B |
| Revenue actual | 4.095B |
| Revenue Surprise | -12.44% |
| Release date | Feb 19, 2026 |
| EPS estimate | $2.30 |
| EPS actual | $2.51 |
| EPS Surprise | 9.13% |
| Revenue estimate | 4.729B |
| Revenue actual | 4.056B |
| Revenue Surprise | -14.25% |
| Release date | Nov 05, 2025 |
| EPS estimate | $2.11 |
| EPS actual | $2.20 |
| EPS Surprise | 4.27% |
| Revenue estimate | 4.562B |
| Revenue actual | 4.202B |
| Revenue Surprise | -7.90% |
| Release date | Aug 07, 2025 |
| EPS estimate | $1.86 |
| EPS actual | $2.87 |
| EPS Surprise | 54.30% |
| Revenue estimate | 4.889B |
| Revenue actual | 4.026B |
| Revenue Surprise | -17.65% |
Last 4 Quarters for Targa Resources
Below you can see how TRGP performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Aug 07, 2025 |
| Price on release | $166.89 |
| EPS estimate | $1.86 |
| EPS actual | $2.87 |
| EPS surprise | 54.30% |
| Date | Price |
|---|---|
| Aug 01, 2025 | $162.92 |
| Aug 04, 2025 | $164.82 |
| Aug 05, 2025 | $163.63 |
| Aug 06, 2025 | $163.05 |
| Aug 07, 2025 | $166.89 |
| Aug 08, 2025 | $165.09 |
| Aug 11, 2025 | $166.11 |
| Aug 12, 2025 | $168.04 |
| Aug 13, 2025 | $166.74 |
| 4 days before | 2.44% |
| 4 days after | -0.0899% |
| On release day | -1.08% |
| Change in period | 2.34% |
| Release date | Nov 05, 2025 |
| Price on release | $162.69 |
| EPS estimate | $2.11 |
| EPS actual | $2.20 |
| EPS surprise | 4.27% |
| Date | Price |
|---|---|
| Oct 30, 2025 | $151.52 |
| Oct 31, 2025 | $154.04 |
| Nov 03, 2025 | $156.09 |
| Nov 04, 2025 | $154.57 |
| Nov 05, 2025 | $162.69 |
| Nov 06, 2025 | $169.88 |
| Nov 07, 2025 | $172.06 |
| Nov 10, 2025 | $169.41 |
| Nov 11, 2025 | $173.23 |
| 4 days before | 7.37% |
| 4 days after | 6.48% |
| On release day | 4.42% |
| Change in period | 14.33% |
| Release date | Feb 19, 2026 |
| Price on release | $224.16 |
| EPS estimate | $2.30 |
| EPS actual | $2.51 |
| EPS surprise | 9.13% |
| Date | Price |
|---|---|
| Feb 12, 2026 | $218.26 |
| Feb 13, 2026 | $223.89 |
| Feb 17, 2026 | $224.29 |
| Feb 18, 2026 | $227.62 |
| Feb 19, 2026 | $224.16 |
| Feb 20, 2026 | $231.35 |
| Feb 23, 2026 | $231.87 |
| Feb 24, 2026 | $231.72 |
| Feb 25, 2026 | $230.14 |
| 4 days before | 2.70% |
| 4 days after | 2.67% |
| On release day | 3.21% |
| Change in period | 5.44% |
| Release date | May 07, 2026 |
| Price on release | $252.44 |
| EPS estimate | $2.48 |
| EPS actual | $2.21 |
| EPS surprise | -10.89% |
| Date | Price |
|---|---|
| May 01, 2026 | $254.28 |
| May 04, 2026 | $258.98 |
| May 05, 2026 | $259.72 |
| May 06, 2026 | $249.50 |
| May 07, 2026 | $252.44 |
| May 08, 2026 | $248.12 |
| May 11, 2026 | $253.18 |
| May 12, 2026 | $255.16 |
| May 13, 2026 | $263.29 |
| 4 days before | -0.724% |
| 4 days after | 4.30% |
| On release day | -1.71% |
| Change in period | 3.54% |
Targa Resources Earnings Call Transcript Summary of Q1 2026
Targa Resources delivered a strong start to 2026 with record first-quarter adjusted EBITDA, record Permian inlet volumes and record fractionation volumes despite severe winter weather and producer shut-ins tied to weak Waha gas prices. Management raised full-year 2026 adjusted EBITDA guidance to $5.7–$5.9 billion (midpoint $300 million above February guidance), driven by acquisition contributions, marketing/optimization opportunities (notably natural gas marketing and LPG export), and robust underlying operations. Permian growth remains the core driver: multiple new Permian processing plants are online or under construction (including newly announced Roadrunner III and Copperhead II targeting 1Q 2028), intra-basin residue projects and pipeline/egress projects (Blackcomb, GCX expansion, Traverse, Speedway) are expected to materially improve takeaway capacity late 2026 into 2027. LPG export volumes are highly contracted, with demand (especially for butane after Middle East disruptions) creating near-term upside and supporting the company’s planned export expansion (on track for 3Q 2027). Balance sheet and capital allocation: net growth capex of ~ $4.5 billion and maintenance capex ~$250 million for 2026 remain unchanged; liquidity ~$3.1 billion and pro forma leverage ~3.6x (within 3.0–4.0x target). Management emphasized execution track record (projects largely on time/early), continued focus on safety, ongoing opportunistic M&A, and returning capital to shareholders (25% dividend increase, $55M buybacks in Q1).
