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Targa Resources TRGP Q1 2025 earnings

Reported May 1, 2025 · Before market open

Revenue$4.6BMiss by $337.2M
EPS$0.91Miss by $1.07
Revenue estimate$4.9B
EPS estimate$1.98

Next report

Nov 4, 2026 (in a month)
Revenue estimate$4.7B
EPS estimate$2.70

Financials

Q1 2025

Income statement

See full
Revenue$4.6B0.0%
Gross profit$1.3B-3.0%
Operating income$543.3M-15.0%
Net income$270.5M-1.7%
EPS (diluted)$0.91-25.4%

Balance sheet

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Cash & equivalents$151.4M+37.8%
Total debt$296.2M+6.1%
Total equity$2.5B-9.3%
Total assets$22.8B+9.4%

Cash flow

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Operating cash flow$954.4M+8.9%
CapEx$792.2M+18.3%
Free cash flow$162.2M-21.5%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$43.62B+74.8%
Enterprise value$43.76B+74.2%
P/E33.4×+11.2×
P/S2.7×+1.1×

Profitability

See full
Gross margin34.4%+2.0pp
Operating margin15.9%+0.8pp
Net margin8%+1.0pp

Returns & leverage

See full
Return on equity50.7%+7.9pp
Debt / equity0.1×0.0×
Current ratio0.6×-0.1×

Segments

By product

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Natural Gas Liquids Reserves$3.4B+0.9%
Natural Gas Reserves$681.9M+37.9%
Storage Terminaling And Export$135.4M+7.7%
Oil And Condensate$117.0M-14.7%
NGL Transportation Fractionation And Services$73.2M-0.5%

By segment

See full
Logistics And Transportation$4.2B+6.3%
Gathering And Processing$2.2B+20.8%
All Other Segments-$248.8M-1,026%
Corporate Non Segment And Inter Segment Elimination-$1.6B-33.9%

FAQ

When did Targa Resources report Q1 2025 earnings?
Targa Resources (TRGP) reported Q1 2025 earnings on May 1, 2025 before market open.
What were Targa Resources's Q1 2025 revenue and EPS?
Targa Resources reported revenue of $4.6B and eps of $0.91 for Q1 2025.
Did Targa Resources beat estimates in Q1 2025?
Revenue missed the consensus estimate of $4.9B by $337.2M. EPS missed the consensus estimate of $1.98 by $1.07.
How did Targa Resources's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.8% from $4.6B a year earlier and eps declined 25.4% from $1.22.
Where can I find Targa Resources's Q1 2025 SEC filings?
You can read the 8-K earnings release (0000950170-25-061423) and the 10-Q periodic report (0000950170-25-061595) directly on SEC EDGAR. The filing index links above go to sec.gov.