# Targa Resources (TRGP) — Earnings

TRGP · NYSE · Stock

Canonical page: https://www.lighthorse.io/tickers/trgp/earnings

## Most recent quarter

| Metric | Value |
| --- | --- |
| Fiscal period | Q2 2026 |
| Period end | Jun 30, 2026 |
| EPS actual | $3.55 |
| EPS estimate | $2.83 |
| EPS surprise | +25.39% |
| Revenue surprise | −9.34% |
| Revenue | $4.4B |
| Revenue estimate | $4.9B |
| Reported | Aug 6, 2026 |
| SEC filing | [View filing](https://www.sec.gov:443/Archives/edgar/data/1389170/000119312526337729/trgp-20260630.htm) |
| Earnings call | [Transcript](http://o.thsi.cn/dc-d-stock-america.teleconference/8ad026dc-0db3-6caa-b300-e61ab832dafe.html) |

Targa Resources reported Q2 2026 results on August 6, 2026. Earnings per share were $3.55, ahead of the $2.83 estimate by 25.39%. Revenue was $4.4 billion, below the $4.9 billion consensus by 9.34%. Compared with Q2 2025, EPS rose about 22% from $2.90, while revenue edged up from $4.3 billion.

That was the highest EPS in the table. Annual EPS was $3.89 in 2022 and $3.70 in 2023, then rose to $5.79 in 2024 and $8.56 in 2025, more than double the 2022 level. The first half of 2026 adds up to $5.78, about 51% more than a year earlier. Quarterly results have swung widely. Q4 2021 was a loss of $1.47 per share, and Q1 2023 earned just $0.03. Revenue has moved in a narrower band, peaking at $6.1 billion in Q2 2022. Over the last 20 quarters, Targa beat the EPS estimate 10 times. Revenue came in below the estimate in each of the last nine quarters.

Targa reported Q3 results between November 2 and November 5 in each of the past five years. That points to early November 2026 for the next report. It will show whether the year-over-year EPS growth of recent quarters continues.

## Earnings history

| Fiscal period | Report date | EPS estimate | EPS actual | Surprise | Revenue estimate | Revenue actual |
| --- | --- | --- | --- | --- | --- | --- |
| Q2 2026 | Aug 6, 2026 | $2.83 | $3.55 | 25.39% | $4.9B | $4.4B |
| Q1 2026 | May 7, 2026 | $2.48 | $2.23 | -10.35% | $4.7B | $4.1B |
| Q4 2025 | Feb 19, 2026 | $2.30 | $2.53 | 9.79% | $4.8B | $4.1B |
| Q3 2025 | Nov 5, 2025 | $2.11 | $2.21 | 4.58% | $4.6B | $4.2B |
| Q2 2025 | Aug 7, 2025 | $1.86 | $2.90 | 55.64% | $4.9B | $4.3B |
| Q1 2025 | May 1, 2025 | $1.98 | $0.92 | -53.53% | $4.9B | $4.6B |
| Q4 2024 | Feb 20, 2025 | $1.92 | $1.45 | -24.61% | $4.5B | $4.4B |
| Q3 2024 | Nov 5, 2024 | $1.56 | $1.76 | 12.68% | $4.1B | $3.9B |
| Q2 2024 | Aug 1, 2024 | $1.28 | $1.35 | 5.21% | $4.5B | $3.6B |
| Q1 2024 | May 2, 2024 | $1.31 | $1.23 | -6.25% | $4.3B | $4.6B |
| Q4 2023 | Feb 15, 2024 | $1.46 | $1.24 | -15.17% | $3.9B | $4.2B |
| Q3 2023 | Nov 2, 2023 | $1.19 | $0.98 | -17.95% | $4.5B | $3.9B |
| Q2 2023 | Aug 3, 2023 | $1.23 | $1.45 | 17.63% | $4.4B | $3.4B |
| Q1 2023 | May 4, 2023 | $1.44 | $0.03 | -97.91% | $5.3B | $4.5B |
| Q4 2022 | Feb 22, 2023 | $1.37 | $1.38 | 0.96% | $5.7B | $4.6B |
| Q3 2022 | Nov 3, 2022 | $1.21 | $0.84 | -30.53% | $6.7B | $5.4B |
| Q2 2022 | Aug 4, 2022 | $1.09 | $1.61 | 47.99% | $5.8B | $6.1B |
| Q1 2022 | May 5, 2022 | $0.98 | $0.06 | -93.89% | $4.9B | $5.0B |
| Q4 2021 | Feb 24, 2022 | $0.65 | −$1.47 | -327.70% | $4.5B | $5.4B |
| Q3 2021 | Nov 4, 2021 | $0.50 | $0.58 | 15.70% | $3.8B | $4.5B |

## Frequently Asked Questions

### When did Targa Resources (TRGP) last report earnings?

Targa Resources last reported on Aug 6, 2026, covering fiscal Q2 2026.

### Did TRGP beat earnings estimates?

Yes. Targa Resources reported EPS of $3.55 for Q2 2026 against a $2.83 estimate — a 25.39% beat.

### How much revenue did TRGP report last quarter?

Targa Resources reported $4.4B in revenue for Q2 2026, against a consensus estimate of $4.9B.

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Earnings figures may be restated, revised or corrected by the issuer. Past results do not indicate future performance.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).