Targa Resources Corp. (TRGP) stock
TRGPNYSENatural Gas TransmissionFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026Score 9/3041% above fair value
$314.99+2.62 (+0.84%)
Close on Oct 30, 2026Market cap $67.54BP/E 30.1Yield 1.19%
Earnings
Targa Resources's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.
Next report
Nov 4, 2026
Q3 FY2026 · estimated, before the open
Revenue, Q2 FY2026
$4.44B
+4.2% on a year earlier
EPS, Q2 FY2026
–
Latest guidance
Raised
Aug 6, 2026 · 3 items
Quarterly results
Revenue and earnings per share from each of Targa Resources's earnings releases, newest first
| Quarter | Reported | Revenue | YoY | EPS | Source |
|---|---|---|---|---|---|
| Q3 FY2026ended Sep 30, 2026 | Nov 4, 2026Expected | – | – | – | – |
| Q2 FY2026ended Jun 30, 2026 | Aug 6, 2026before the open | $4.44B | +4.2% | – | Release |
| Q1 FY2026ended Mar 31, 2026 | May 7, 2026before the open | $4.09B | -10.2% | – | Release |
| Q4 FY2025ended Dec 31, 2025 | Feb 19, 2026before the open | $4.06B | -7.9% | – | Release |
| Q3 FY2025ended Sep 30, 2025 | Nov 5, 2025before the open | $4.15B | +7.8% | – | Release |
| Q2 FY2025ended Jun 30, 2025 | Aug 7, 2025before the open | $4.26B | +19.6% | – | Release |
| Q1 FY2025ended Mar 31, 2025 | May 1, 2025before the open | $4.56B | -0.0% | – | Release |
| Q4 FY2024ended Dec 31, 2024 | Feb 20, 2025before the open | $4.41B | +3.9% | – | Release |
| Q3 FY2024ended Sep 30, 2024 | Nov 5, 2024before the open | $3.85B | -1.1% | – | Release |
| Q2 FY2024ended Jun 30, 2024 | Aug 1, 2024before the open | $3.56B | +4.7% | – | Release |
| Q1 FY2024ended Mar 31, 2024 | May 2, 2024before the open | $4.56B | +0.9% | – | Release |
| Q4 FY2023ended Dec 31, 2023 | Feb 15, 2024before the open | $4.24B | -6.9% | – | Release |
| Q3 FY2023ended Sep 30, 2023 | Nov 2, 2023before the open | $3.90B | -27.3% | – | Release |
| Q2 FY2023ended Jun 30, 2023 | Aug 3, 2023before the open | $3.40B | -43.8% | – | Release |
| Q1 FY2023ended Mar 31, 2023 | May 4, 2023before the open | $4.52B | -8.8% | – | Release |
| Q4 FY2022ended Dec 31, 2022 | Feb 22, 2023before the open | $4.55B | -16.3% | – | Release |
| Q3 FY2022ended Sep 30, 2022 | Nov 3, 2022before the open | $5.36B | +20.2% | – | Release |
| Q2 FY2022ended Jun 30, 2022 | Aug 4, 2022before the open | $6.06B | – | – | Release |
| Q1 FY2022ended Mar 31, 2022 | May 5, 2022before the open | $4.96B | – | – | Release |
| Q4 FY2021ended Dec 31, 2021 | Feb 24, 2022before the open | $5.44B | – | – | Release |
| Q3 FY2021ended Sep 30, 2021 | Nov 4, 2021before the open | $4.46B | – | – | Release |
| Q2 FY2021ended Jun 30, 2021 | Aug 5, 2021before the open | – | – | – | Filing |
| Q1 FY2021ended Mar 31, 2021 | May 6, 2021before the open | – | – | – | Filing |
| Q4 FY2020ended Dec 31, 2020 | Feb 18, 2021before the open | – | – | – | Filing |
| Q3 FY2020ended Sep 30, 2020 | Nov 5, 2020before the open | – | – | – | Filing |
| Q2 FY2020ended Jun 30, 2020 | Aug 6, 2020before the open | – | – | – | Filing |
Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.
Current guidance
Targa Resources's latest outlook for periods it has not reported yet, compared with what it said before
| Metric | Period | Guidance | Before | Change | Given |
|---|---|---|---|---|---|
| adjusted EBITDAnon-GAAP | FY2026 | $5.70B – $5.90B | $5.70B – $5.90B | Reaffirmed | Aug 6, 2026 |
| net growth capital expenditures | FY2026 | $4.50B | $4.50B | Raised | Aug 6, 2026 |
| annual common dividend per share | FY2026 | $5.00 | – | New | Nov 5, 2025 |
| increase to 2025 common dividend | FY2026 | +25% | – | New | Nov 5, 2025 |
| Net income attributable to Targa Resources Corp.GAAP | FY2026 | $2.20B | – | New | Feb 19, 2026 |
Guidance history
Every forecast Targa Resources put in an earnings release, newest first
| Given | Metric | Period | Guidance | Change |
|---|---|---|---|---|
| Aug 6, 2026 | net growth capital expenditures | FY2026 | $4.50B | Raised |
| Aug 6, 2026 | net maintenance capital expenditures | FY2026 | $250.00M | Lowered |
| Aug 6, 2026 | adjusted EBITDA | FY2026 | $5.70B – $5.90B | Reaffirmed |
| May 7, 2026 | net growth capital expenditures | FY2026 | $4.50B | Raised |
| May 7, 2026 | net maintenance capital expenditures | FY2026 | $250.00M | Lowered |
| May 7, 2026 | adjusted EBITDA | FY2026 | $5.70B – $5.90B | Raised |
| Feb 19, 2026 | net growth capital expenditures | FY2026 | $4.50B | New |
| Feb 19, 2026 | Net maintenance capital expenditures | FY2026 | $250.00M | Lowered |
| Feb 19, 2026 | adjusted EBITDA | FY2026 | $5.40B – $5.60B | New |
| Feb 19, 2026 | Net income attributable to Targa Resources Corp. | FY2026 | $2.20B | New |
| Nov 5, 2025 | net growth capital expenditures | FY2025 | $3.30B | Raised |
| Nov 5, 2025 | net maintenance capital expenditures | FY2025 | $250.00M | Lowered |
| Nov 5, 2025 | adjusted EBITDA | FY2025 | $4.65B – $4.85B | Reaffirmed |
| Nov 5, 2025 | Net income attributable to Targa Resources Corp. | FY2025 | $1.83B | New |
| Nov 5, 2025 | increase to 2025 common dividend | FY2026 | +25% | New |
| Nov 5, 2025 | annual common dividend per share | FY2026 | $5.00 | New |
| Nov 5, 2025 | common dividend per share | Q1 FY2026 | $1.25 | New |
| Aug 7, 2025 | net growth capital expenditures | FY2025 | $3.00B | New |
| Aug 7, 2025 | net maintenance capital expenditures | FY2025 | $250.00M | Lowered |
| Aug 7, 2025 | adjusted EBITDA | FY2025 | $4.65B – $4.85B | New |
| May 1, 2025 | net growth capital expenditures | FY2025 | $2.60B – $2.80B | Raised |
| May 1, 2025 | adjusted EBITDA | FY2025 | $4.65B – $4.85B | Reaffirmed |
| May 1, 2025 | net maintenance capital expenditures | FY2025 | $250.00M | New |
| Feb 20, 2025 | net growth capital expenditures | FY2025 | $2.60B – $2.80B | Raised |
| Feb 20, 2025 | Net maintenance capital expenditures | FY2025 | $250.00M | Lowered |
| Feb 20, 2025 | adjusted EBITDA | FY2025 | $4.65B – $4.85B | New |
| Nov 5, 2024 | adjusted EBITDA | FY2024 | $3.95B – $4.05B | Reaffirmed |
| Aug 1, 2024 | total net growth capital expenditures | FY2024 | $2.70B | Raised |
| Aug 1, 2024 | net maintenance capital expenditures | FY2024 | $225.00M | Lowered |
| Aug 1, 2024 | net growth capital expenditures | FY2025 | $1.70B | Raised |
| Aug 1, 2024 | adjusted EBITDA | FY2024 | $3.95B – $4.05B | Raised |
| May 2, 2024 | net growth capital expenditures | FY2024 | $2.30B – $2.50B | Raised |
| May 2, 2024 | Net maintenance capital expenditures | FY2024 | $225.00M | Lowered |
| May 2, 2024 | net growth capital expenditures | FY2025 | $1.40B | Reaffirmed |
| May 2, 2024 | adjusted EBITDA | FY2024 | $3.70B – $3.90B | Reaffirmed |
| Feb 15, 2024 | net growth capital expenditures | FY2024 | $2.30B – $2.50B | New |
| Feb 15, 2024 | Net maintenance capital expenditures | FY2024 | $225.00M | Lowered |
| Feb 15, 2024 | net growth capital expenditures | FY2025 | $1.40B | New |
| Feb 15, 2024 | adjusted EBITDA | FY2024 | $3.70B – $3.90B | New |
| Nov 2, 2023 | total net growth capital expenditures | FY2023 | $2.00B – $2.20B | Raised |
| Nov 2, 2023 | net maintenance capital expenditures | FY2023 | $200.00M | Lowered |
| Nov 2, 2023 | adjusted EBITDA | FY2023 | $3.50B – $3.70B | Reaffirmed |
| Aug 3, 2023 | total net growth capital expenditures | FY2023 | $2.00B – $2.20B | Raised |
| Aug 3, 2023 | net maintenance capital expenditures | FY2023 | $175.00M | Lowered |
| Aug 3, 2023 | adjusted EBITDA | FY2023 | $3.50B – $3.70B | Reaffirmed |
| May 4, 2023 | total net growth capital expenditures | FY2023 | $2.00B – $2.20B | Raised |
| May 4, 2023 | net maintenance capital expenditures | FY2023 | $175.00M | Lowered |
| May 4, 2023 | adjusted EBITDA | FY2023 | $3.50B – $3.70B | Reaffirmed |
| Feb 22, 2023 | net growth capital expenditures | FY2023 | $1.80B – $1.90B | New |
| Feb 22, 2023 | Net maintenance capital expenditures | FY2023 | $175.00M | Lowered |
| Feb 22, 2023 | adjusted EBITDA | FY2023 | $3.50B – $3.70B | New |
| Feb 22, 2023 | average Permian natural gas inlet volumes | FY2023 | +10% | New |
| Nov 3, 2022 | total net growth capital expenditures | FY2022 | $1.10B – $1.20B | Raised |
| Nov 3, 2022 | net maintenance capital expenditures | FY2022 | $150.00M | Lowered |
| Nov 3, 2022 | adjusted EBITDA | FY2022 | $2.85B – $2.95B | Reaffirmed |
| Aug 4, 2022 | net growth capital expenditures | FY2022 | $1.00B – $1.10B | Raised |
| Aug 4, 2022 | net maintenance capital expenditures | FY2022 | $150.00M | Lowered |
| Aug 4, 2022 | adjusted EBITDA | FY2022 | $2.85B – $2.95B | Raised |
| May 5, 2022 | net growth capital expenditures | FY2022 | $700.00M – $800.00M | Raised |
| May 5, 2022 | full year adjusted EBITDA | FY2022 | $2.30B – $2.50B | Reaffirmed |
| May 5, 2022 | average Permian natural gas inlet volumes | FY2022 | +12% – +15% | Reaffirmed |
| Feb 24, 2022 | net growth capital expenditures | FY2022 | $700.00M – $800.00M | New |
| Feb 24, 2022 | Net maintenance capital expenditures | FY2022 | $150.00M | Lowered |
| Feb 24, 2022 | adjusted EBITDA | FY2022 | $2.30B – $2.50B | New |
| Feb 24, 2022 | average Permian natural gas inlet volumes | FY2022 | +12% – +15% | New |
| Nov 4, 2021 | net growth capital expenditures | FY2021 | $450.00M | New |
| Nov 4, 2021 | net maintenance capital expenditures | FY2021 | $120.00M | Lowered |
| Nov 4, 2021 | consolidated leverage ratio | FY2021 | 3.25 | New |
Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.
Press releases
Releases Targa Resources filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Results
- Update
- Results
- Update
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- Update
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- Update
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- Update
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- Results