When did Targa Resources report Q1 2026 earnings?

Targa Resources (TRGP) reported Q1 2026 earnings on May 7, 2026 before market open.

What were Targa Resources's Q1 2026 revenue and EPS?

Targa Resources reported revenue of $4.1B and diluted EPS of $2.21 for Q1 2026.

Did Targa Resources beat estimates in Q1 2026?

Revenue missed the consensus estimate of $4.7B by $581.6M. EPS missed the consensus estimate of $2.48 by $0.27.

How did Targa Resources's Q1 2026 results compare year-over-year?

Compared to the same quarter a year prior, revenue declined 10.2% from $4.6B a year earlier and diluted EPS grew 142.9% from $0.91.

Where can I find Targa Resources's Q1 2026 SEC filings?

You can read the 8-K earnings release (0001193125-26-210165) and the 10-Q periodic report (0001193125-26-211698) directly on SEC EDGAR. The filing index links above go to sec.gov.

Targa Resources TRGP Q1 2026 earnings

Reported May 7, 2026 · Before market open

Revenue$4.1BMiss by $581.6M Diluted EPS$2.21Miss by $0.27

Revenue estimate$4.7B

EPS estimate$2.48

Next report

Aug 6, 2026 (In 3 weeks)

Revenue estimate$4.8B

EPS estimate$2.75

Financials

Q1 2026

Income statement

See full

Revenue$4.1B-10.2%

Gross profit$1.7B+30.4%

Operating income$846.9M+55.9%

Net income$479.6M+77.3%

EPS (diluted)$2.21+143%

Balance sheet

See full

Cash & equivalents$100.1M-33.9%

Total debt$346.5M+17.0%

Total equity$3.1B+27.9%

Total assets$27.1B+18.9%

Cash flow

See full

Operating cash flow$739.5M-22.5%

CapEx$899.5M+13.5%

Free cash flow-$160.0M-199%

Valuation & ratios

Valuation

as of 07/09/26

See full

Market cap$59.64B+23.5%

Enterprise value$59.89B+23.6%

P/E28×-9.0×

P/S3.6×+0.7×

Profitability

See full

Gross margin41.8%+7.3pp

Operating margin21.9%+6.1pp

Net margin12.9%+4.9pp

Returns & leverage

See full

Return on equity76.3%+25.6pp

Debt / equity0.1×0.0×

Current ratio0.7×+0.1×

Segments

By product

See full

Natural Gas Liquids Reserves$3.0B-11.7%

Service$750.1M+10.8%

Natural Gas Reserves$473.7M-30.5%

Oil And Condensate$131.8M+12.6%

Storage Terminaling And Export$123.1M-9.1%

By segment

See full

Logistics And Transportation$3.4B-18.8%

Gathering And Processing$1.8B-18.9%

All Other Segments-$110.3M+55.7%

Corporate Non Segment And Inter Segment Elimination-$983.7M+37.9%

Versus estimates

Revenue

Q1 2026$4.1BMiss by $581.6M

Q4 2025$4.1BMiss by $674.0M Q3 2025$4.2BMiss by $360.4M Q2 2025$4.0BMiss by $862.7M Q1 2025$4.6BMiss by $337.2M Q4 2024$4.4BMiss by $70.1M

Diluted EPS

Q1 2026$2.21Miss by $0.27

Q4 2025$2.51Beat by $0.21 Q3 2025$2.20Beat by $0.09 Q2 2025$2.87Beat by $1.01 Q1 2025$0.91Miss by $1.07 Q4 2024$1.44Miss by $0.48

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Questions, answered.

When did Targa Resources report Q1 2026 earnings?: Targa Resources (TRGP) reported Q1 2026 earnings on May 7, 2026 before market open.
What were Targa Resources's Q1 2026 revenue and EPS?: Targa Resources reported revenue of $4.1B and diluted EPS of $2.21 for Q1 2026.
Did Targa Resources beat estimates in Q1 2026?: Revenue missed the consensus estimate of $4.7B by $581.6M. EPS missed the consensus estimate of $2.48 by $0.27.
How did Targa Resources's Q1 2026 results compare year-over-year?: Compared to the same quarter a year prior, revenue declined 10.2% from $4.6B a year earlier and diluted EPS grew 142.9% from $0.91.
Where can I find Targa Resources's Q1 2026 SEC filings?: You can read the 8-K earnings release (0001193125-26-210165) and the 10-Q periodic report (0001193125-26-211698) directly on SEC EDGAR. The filing index links above go to sec.gov.