Targa Resources Corp., alongside its subsidiary Targa Resources Partners LP, is a significant entity in the North American midstream energy sector, focusing ...
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Est. EPS $11.25 · Revenue $19.01B · 10 analysts
Est. EPS $12.32 · Revenue $22.95B · 10 analysts
Est. EPS $3.72 · Revenue $6.16B · 4 analysts
Est. EPS $4.07 · Revenue $6.99B · 4 analysts
$4.50 per share
$4.50 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $17.1B | +3.1% | +8.4% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $1.8B | +45.3% | +59.4% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +26.5% | +32.6% | +54.7% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +20.1% | +13.6% | +34.4% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +10.8% | +41.0% | +47.0% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $584.1M | -14.6% | +369.5% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +3.4% | -17.1% | +348.5% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 571.9% | +3.9% | -9.7% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.67x | -8.0% | +7.3% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $25.2B | +10.9% | +5.2% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 8.52 vs 8.53 | -0.1% | 3.56 vs 3.72 | -4.3% |
| Revenue Surprise | $17.1B vs $17.0B | +0.9% | $4.4B vs $6.2B | -28.0% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | CRISP CHARLES R | director | Common Stock | D | 1,200 | — |
| Aug 25, 2026 | CRISP CHARLES R | director | Common Stock | D | 3,000 | $290.23 |
| Aug 21, 2026 | Davis Waters S IV | director | Common Stock | D | 440 | $296.39 |
| Aug 21, 2026 | Davis Waters S IV | director | Common Stock | D | 692 | $297.38 |
| Aug 21, 2026 | Davis Waters S IV | director | Common Stock | D | 254 | $298.68 |
Operator: Good day, and thank you for standing by. Welcome to the Targa Resources Corp. Second Quarter 2026 Earnings Webcast and Presentation. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Tristan Richardson, Vice President, Investor Relations and Fundamentals. Please go ahead. Tristan Richardson: Thanks, operator. Good morning, and welcome to the Second Quarter 2026 Earnings Call for Targa Resources Corp. The second quarter earnings release, a supplement presentation and our latest investor presentation are available in the Investors section of our website at targaresources.com. Statements made during this call that may include Targa's 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; Jen Kneale, President; and Will Byers, Chief Financial Officer. Additionally, members of Targa's senior management will be available for Q&A, including Pat McDonie, President, Gathering and Processing; Ben Branstetter, President, Logistics and Transportation; and Bobby Muraro, Chief Commercial Officer. I'll now turn the call over to Matt. Matt Meloy: Thanks, Tristan, and good morning. We had another great quarter where we reported numerous financial and operational records. Adjusted EBITDA increased 38% year-over-year. We reported record volumes again in the Permian, up more than 900 million cubic feet per day from a year ago and up 450 million cubic feet per day compared to Q1. That's almost 2 plants worth of gas in 1 quarter. This strong Permian growth drove record volumes across our downstream systems, including NGL transportation, fractionation and LPG export. Our customers remain active and the commercial service offering we've built the past many years continues to gain traction with our customers. We continue to benefit from the activity of our producer customers with millions of acres dedicated across the Permian, and that number continues to grow. With the largest G&P footprint in the Permian, we believe we are positioned very well for continued growth over the long term. And given the strength we have seen so far this year, we now expect to be towards the top end of our previously provided adjusted EBITDA guidance range, suggesting that our 2026 adjusted EBITDA growth over 2025 may be close to $1 billion, all while reducing our share count and increasing our dividend. This strong performance underscores the value of the organic growth projects that we continue to invest in and positions Targa for success across a range of market conditions. In the first half of 2026 against the …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Matthew J. Meloy | Chief Executive Officer & Director | USD 5,194,715 | Male | 1978 | Active |
Jennifer R. Kneale | President | USD 2,632,073 | Female | 1979 | Active |
Patrick J. McDonie | President of Gathering & Processing | USD 1,985,235 | Male | 1961 | Active |
Robert Muraro | Chief Commercial Officer | USD 1,985,235 | Male | 1977 | Active |
Benjamin J. Branstetter | President of Logistics & Transportation | USD 1,975,043 | Male | 1986 | Active |
William Byers | Chief Financial Officer | USD 1,835,817 | Male | 1977 | Active |
Joel Thomas | Senior Vice President of Finance & Treasurer | — | Male | — | Active |
Tristan James Richardson | VP of Investor Relations & Fundamentals | — | Male | — | Active |
Denny Latham | Executive Vice President of Permian | — | Male | — | Active |
Gerald R. Shrader | Executive Vice President, General Counsel & Secretary | — | Male | 1960 | Active |
John Christopher Eklof | Senior Vice President & Chief Accounting Officer | — | Male | 1970 | Active |
While the top- and bottom-line numbers for Targa Resources (TRGP) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Targa Resources, Inc. (TRGP) came out with quarterly earnings of $3.54 per share, beating the Zacks Consensus Estimate of $2.83 per share. This compares to earnings of $2.87 per share a year ago.
Targa Resources Corp. (TRGP) Q2 2026 Earnings Call Transcript
U.S. pipeline operator Targa Resources beat Wall Street estimates for second-quarter core profit on Thursday, as record Permian natural gas volumes and higher demand for its transportation and export services boosted earnings.
HOUSTON, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported second quarter 2026 results.
