Targa ResourcesTRGPEarnings & Financial Report
Targa Resources Corp. is a Fortune 500 company based in Houston, Texas. Targa, a midstream energy infrastructure corporation, is one of the largest infrastructure companies delivering natural gas and natural gas liquids in the United States. Their operations are based largely, though not entirely, on the Gulf Coast, particularly in Texas and Louisiana. Matthew J. Meloy has been Chief Executive Officer since 2020.
TRGP Q1 FY2026 Key Financial Metrics
Revenue
$4.1B
Gross Profit
N/A
Operating Profit
N/A
Net Profit
$487.4M
Gross Margin
N/A
Operating Margin
N/A
Net Margin
11.9%
YoY Growth
-10.2%
Targa Resources Q1 FY2026 Financial Summary
Targa Resources reported revenue of $4.1B (down 10.2% YoY) for Q1 FY2026, with a net profit of $487.4M (up 74.2% YoY) (11.9% margin).
Key Financial Metrics
| Total Revenue | $4.1B |
|---|---|
| Net Profit | $487.4M |
| Gross Margin | N/A |
| Operating Margin | N/A |
| Report Period | Q1 FY2026 |
Revenue Breakdown
Targa Resources Q1 FY2026 revenue of $4.1B breaks down across 2 segments, led by Sales of commodities at $3.3B (81.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Sales of commodities | $3.3B | 81.7% |
| Fees from midstream services | $750.1M | 18.3% |
Targa Resources Annual Revenue by Year
Targa Resources annual revenue history includes year-by-year totals (for example, 2025 revenue was $17.0B).
Targa Resources Quarterly Revenue & Net Profit History
Targa Resources results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $4.1B | -10.2% | $487.4M | 11.9% |
| Q4 FY2025 | $4.1B | -7.9% | $545.0M | 13.4% |
| Q3 FY2025 | $4.2B | +7.8% | $478.4M | 11.5% |
| Q2 FY2025 | $4.3B | +39.8% | $629.1M | 14.8% |
| Q1 FY2025 | $4.6B | +14.4% | $270.5M | 5.9% |
| Q4 FY2024 | $4.4B | +21.0% | $350.9M | 8.0% |
| Q3 FY2024 | $3.9B | +14.7% | $387.4M | 10.1% |
| Q2 FY2024 | $3.0B | +12.1% | $298.5M | 9.8% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.05B | $3.85B | $4.41B | $4.56B | $4.26B | $4.15B | $4.06B | $4.09B |
| YoY Growth | 12.1% | 14.7% | 21.0% | 14.4% | 39.8% | 7.8% | -7.9% | -10.2% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $21.26B | $21.90B | $22.73B | $22.80B | $23.51B | $24.17B | $25.22B | N/A |
| Liabilities | $18.80B | $19.33B | $20.14B | $20.35B | $20.92B | $21.47B | $22.15B | N/A |
| Equity | $2.47B | $2.57B | $2.59B | $2.45B | $2.59B | $2.71B | $3.07B | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $904.5M | $540.9M | $1.33B | $954.4M | $858.3M | $599.2M | $1.51B |