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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Targa Resources (TRGP) is 5/10.
Adjusted EBITDA reached $1.4 billion despite Waha gas price weakness and producer shut-ins, as LPG export demand surged from global trade dynamics. Permian volumes were more than 250 million cubic feet per day above the first quarter average, and natural gas marketing optimization provided upside. Management raised full-year 2026 EBITDA guidance by $300 million to $5.7-5.9 billion, a 5.5% increase at the midpoint, reflecting confidence in the integrated capital program execution.
Scored from Targa Resources’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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On August 20, 2026, the board of Targa Resources appointed Brent B. Secrest, age 53, to serve as the company's President - Logistics and Transportation, effective September 1, 2026. Mr. Secrest most recently served as Executive Vice President and Chief Commercial Officer at Enterprise Products Holdings LLC.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $4.41B | +4.1% | $1.45 | +16.2% | 25.1% | 15.9% | 8.0% | $601M |
| FY2025 Q1 | $4.85B | +6.4% | $0.91 | -25.4% | 19.0% | 17.2% | 4.1% | $162M |
| FY2025 Q2 | $4.03B | +11.3% | $2.88 |
| +115.8% |
| 22.2% |
| 20.1% |
| 15.5% |
| $-48M |
| FY2025 Q3 | $4.20B | +8.1% | $2.20 | +25.7% | 23.3% | 21.1% | 11.3% | $-73M |
| FY2025 Q4 | $4.06B | -7.9% | $2.53 | +74.5% | 43.1% | 22.6% | 13.4% | $542M |
| FY2026 Q1 | $4.09B | -15.6% | $2.21 | +142.9% | 31.1% | 20.7% | 11.7% | $-160M |
| FY2026 Q2 | $4.44B | +10.3% | $3.56 | +23.6% | 48.2% | 27.8% | 17.2% | $271M |