Targa Resources TRGP Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| All Other Segments | -$110.3M+55.7% | -$500K+99.4% | -$36.5M-106% | $280.5M+702% | -$248.8M-1,026% | |
| Corporate Non Segment And Inter Segment Elimination | -$983.7M+37.9% | -$953.7M+25.7% | -$1.22B-32.5% | -$1.19B-31.2% | -$1.58B-33.9% | |
| Gathering And Processing | $1.78B-18.9% | $1.6B-16.0% | $1.87B+19.6% | $1.75B+15.0% | $2.19B+20.8% | |
| Logistics And Transportation | $3.41B-18.8% | $3.41B-11.7% | $3.53B+9.6% | $3.42B+14.2% | $4.2B+6.3% | |
| Segment Operating Margin by Business | ||||||
| All Other Segments | -$110.3M+55.7% | -$500K+99.4% | -$36.5M-106% | $280.5M+702% | -$248.8M-1,026% | |
| Gathering And Processing | $703.5M+16.8% | $611.8M+2.1% | $637.6M+9.1% | $587.6M+2.6% | $602.2M+8.2% | |
| Logistics And Transportation | $773.3M+19.6% | $799M+21.8% | $710.2M+14.7% | $632.4M+15.5% | $646.7M+21.5% | |
| Reportable Segment Aggregation Before Other Operating | $1.48B+18.2% | $1.41B+12.4% | $1.35B+12.0% | $1.22B+8.9% | $1.25B+14.7% | |
| Segment Reporting Other Item Amount by Business | ||||||
| Gathering And Processing | $840.4M-39.2% | $748.8M-31.4% | $1B+28.4% | $938.7M+26.8% | $1.38B+29.2% | |
| Logistics And Transportation | $2.54B-26.6% | $2.51B-19.3% | $2.73B+8.7% | $2.68B+13.6% | $3.46B+3.9% | |
| Total Assets by Business | ||||||
| All Other Segments | $100K— | $1.8M-5.3% | $4.1M+173% | $100K-80.0% | —— | |
| Corporate Non Segment And Inter Segment Elimination | $257.6M+2.5% | $306.1M+30.8% | $270.6M+54.5% | $241.8M+27.3% | $251.3M+59.8% | |
| Gathering And Processing | $16.47B+20.0% | $14.81B+9.1% | $14.21B+7.7% | $13.94B+7.6% | $13.73B+7.1% | |
| Logistics And Transportation | $10.38B+17.7% | $10.11B+13.3% | -$9.69B-214% | -$9.33B-215% | $8.82B+12.1% | |
| Segment Expenditure Addition To Long Lived Assets by Business | ||||||
| Corporate Non Segment And Inter Segment Elimination | $7.8M-25.0% | —— | $5.7M-44.7% | $9.7M+1,070% | $10.4M+845% | |
| Gathering And Processing | $581.8M+34.3% | $598.9M+0.5% | $553M+14.0% | $461M+5.0% | $433.2M-0.4% | |
| Logistics And Transportation | $358.7M+105% | $472.8M+80.3% | $302.9M+20.2% | $421.8M+3.2% | $174.7M-40.5% | |
| Operating Expenses by Business | ||||||
| Gathering And Processing | $233.6M+12.2% | $243.3M+11.9% | $236.1M+15.9% | $219.4M+6.7% | $208.2M+10.7% | |
| Logistics And Transportation | $100.2M+4.9% | $94.2M+6.1% | $98.6M+0.5% | $105.4M+23.4% | $95.5M+6.1% | |
| Revenue by Product | ||||||
| Midstream Services Other | -$1.2M-140% | —— | $15.3M+12.5% | $16M-19.6% | -$500K-103% | |
| Natural Gas Liquids Reserves | $2.98B-11.7% | $2.96B-11.6% | $2.91B-1.7% | $2.83B+4.2% | $3.38B+0.9% | |
| Natural Gas Reserves | $473.7M-30.5% | $393.1M-6.3% | $502.5M+198% | $458.2M+189% | $681.9M+37.9% | |
| NGL Transportation Fractionation And Services | $68.5M-6.4% | $64.7M-15.9% | $86.9M+19.4% | $83.2M+10.6% | $73.2M-0.5% | |
| Oil And Condensate | $131.8M+12.6% | $112M-5.2% | $108M-12.3% | $111.3M-23.3% | $117M-14.7% | |
| Service | $750.1M+10.8% | $642.6M+0.5% | $681.3M+7.3% | $623.8M+4.8% | $677.1M+9.2% | |
| Storage Terminaling And Export | $123.1M-9.1% | $130.9M-3.5% | $113.2M-7.2% | $120.9M+5.6% | $135.4M+7.7% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Targa Resources break its business down?
- Targa Resources (TRGP) reports revenue by business across 4 parts — All Other Segments, Corporate Non Segment And Inter Segment Elimination, Gathering And Processing and Logistics And Transportation. Each is extracted from the segment footnotes and tracked over time.
- Where does Targa Resources's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Targa Resources's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
