When did Targa Resources report Q2 2025 earnings?

Targa Resources (TRGP) reported Q2 2025 earnings on August 7, 2025 before market open.

What were Targa Resources's Q2 2025 revenue and EPS?

Targa Resources reported revenue of $4.0B and diluted EPS of $2.87 for Q2 2025.

Did Targa Resources beat estimates in Q2 2025?

Revenue missed the consensus estimate of $4.9B by $862.7M. EPS beat the consensus estimate of $1.86 by $1.01.

How did Targa Resources's Q2 2025 results compare year-over-year?

Compared to the same quarter a year prior, revenue grew 11.3% from $3.6B a year earlier and diluted EPS grew 115.8% from $1.33.

Where can I find Targa Resources's Q2 2025 SEC filings?

You can read the 10-Q periodic report (0001193125-25-175239) directly on SEC EDGAR. The filing index links above go to sec.gov.

Targa Resources TRGP Q2 2025 earnings

Reported August 7, 2025 · Before market open

Revenue$4.0BMiss by $862.7M Diluted EPS$2.87Beat by $1.01

Revenue estimate$4.9B

EPS estimate$1.86

Next report

Aug 6, 2026 (In 3 weeks)

Revenue estimate$4.8B

EPS estimate$2.75

Financials

Q2 2025

Income statement

See full

Revenue$4.3B+19.6%

Gross profit$1.8B+33.7%

Operating income$1.0B+64.8%

Net income$629.1M+111%

EPS (diluted)$2.87+116%

Balance sheet

See full

Cash & equivalents$113.1M-32.0%

Total debt$304.5M+3.7%

Total equity$2.6B+4.9%

Total assets$23.5B+10.6%

Cash flow

See full

Operating cash flow$858.3M-5.1%

CapEx$906.1M+22.4%

Valuation & ratios

Valuation

as of 06/30/25

See full

Market cap$36.39B+26.8%

Enterprise value$36.58B+26.9%

P/E22.2×-4.0×

P/S2.1×+0.4×

Profitability

See full

Gross margin35.7%+3.4pp

Operating margin17.6%+2.8pp

Net margin9.6%+2.9pp

Returns & leverage

See full

Return on equity64.8%+22.3pp

Debt / equity0.1×0.0×

Current ratio0.7×0.0×

Segments

By product

See full

Natural Gas Liquids Reserves$2.8B+4.2%

Service$623.8M+4.8%

Natural Gas Reserves$458.2M+189%

Storage Terminaling And Export$120.9M+5.6%

Oil And Condensate$111.3M-23.3%

By segment

See full

Logistics And Transportation$3.4B+14.2%

Gathering And Processing$1.7B+15.0%

All Other Segments$280.5M+702%

Corporate Non Segment And Inter Segment Elimination-$1.2B-31.2%

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 Q2 2025 earnings?: Targa Resources (TRGP) reported Q2 2025 earnings on August 7, 2025 before market open.
What were Targa Resources's Q2 2025 revenue and EPS?: Targa Resources reported revenue of $4.0B and diluted EPS of $2.87 for Q2 2025.
Did Targa Resources beat estimates in Q2 2025?: Revenue missed the consensus estimate of $4.9B by $862.7M. EPS beat the consensus estimate of $1.86 by $1.01.
How did Targa Resources's Q2 2025 results compare year-over-year?: Compared to the same quarter a year prior, revenue grew 11.3% from $3.6B a year earlier and diluted EPS grew 115.8% from $1.33.
Where can I find Targa Resources's Q2 2025 SEC filings?: You can read the 10-Q periodic report (0001193125-25-175239) directly on SEC EDGAR. The filing index links above go to sec.gov.