Targa Resources Corp. (TRGP) Financials
Key financial figures for Targa Resources Corp. (Q2 2026).
Targa posts record Q2 2026 adjusted EBITDA of $1.6B, up 38% YoY, and lifts full-year guidance toward the top of its $5.7-5.9B range. Adjusted EBITDA reached $1,603.1 million in Q2 2026, up 38% from $1,163.0 million in Q2 2025 and up 14% sequentially from Q1 2026's $1,402.7 million. Net income attributable to Targa Resources Corp. common shareholders was $764.6 million, versus $629.1 million in Q2 2025. Record operating volumes across the integrated system: Permian natural gas inlet volumes of 7,187.3 MMcf/d, total inlet volumes of 8,908.9 MMcf/d, NGL pipeline transportation of 1,098.9 MBbl/d, and fractionation of 1,206.1 MBbl/d. On the outlook: Targa now estimates full-year 2026 adjusted EBITDA toward the top end of its $5.7-5.9 billion range (previously the full range) and continues to estimate approximately $4.5 billion of 2026 net growth capital expenditures. Figures are for Q2 2026, as Targa Resources Corp. reported them.
- Revenue
- $4.4B
- Net Income
- $778M
- EPS
- $3.54
- Total Assets
- $28.5B
- Operating Cash Flow
- $1.4B
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $4.4B | $765M | $3.56 | 27.8% | $431M |
| Q1 FY2026 | $4.1B | $480M | $2.21 | 20.68% | -$160M |
| Q4 FY2025 | $4.1B | $545M | $2.53 | 22.62% | $542M |
| Q3 FY2025 | $4.2B | $476M | $2.20 | 21.06% | -$73M |
| Q2 FY2025 | $4.0B | $625M | $2.88 | 20.08% | -$48M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $17.1B | $1.8B | $8.52 | 20.11% | $584M |
| FY2024 | $16.6B | $1.3B | $5.74 | 17.71% | $684M |
| FY2023 | $15.6B | $828M | $3.66 | 14% | $826M |
Frequently asked questions
What was Targa Resources Corp.'s revenue last quarter?
Targa Resources Corp. reported revenue of $4.44 billion for Q2 FY2026, up 10.3% from the same period a year earlier.
Is Targa Resources Corp. profitable?
Yes. Targa Resources Corp. reported net income of $764.6 million for Q2 FY2026, a net margin of 17.22% on revenue.
How has Targa Resources Corp.'s margin trended?
Operating margin was 27.8% in Q2 FY2026, compared with 20.08% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Targa Resources Corp. generate?
Targa Resources Corp. generated free cash flow of $431.2 million in Q2 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for Targa Resources Corp. on SentiSense, with up to forty quarters and twenty fiscal years of history.