| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 4.1K | 10.2% |
| Total Income | 4.1K | 10.2% |
| Expenditure | 3.2K | 19.2% |
| PBT | 611.30 | 73.7% |
| Net Profit | 479.60 | 77.3% |
| OPM | 20.68% | 8.77pp |
| NPM | 11.71% | 5.78pp |
| EPS | 2.22 | 144.0% |
Targa Resources Corp. Reports Record Q1 2026 Adjusted EBITDA of $1.4 Billion
07 May 2026 · 7 May, 3:51 pm
Summary
Targa Resources Corp. reported record first quarter 2026 financial results, with adjusted EBITDA reaching $1.4 billion, a 19% increase year-over-year. Net income attributable to Targa Resources Corp. increased to $480 million compared to $271 million in the first quarter of 2025. The company completed several key projects, including the Falcon II processing plant and the East Pembrook plant. Targa is increasing its full year 2026 adjusted EBITDA estimate to between $5.7 billion and $5.9 billion, driven by a strong outlook for marketing and optimization opportunities, LPG export operations, and continued volume growth.
Key Highlights
- 1
Targa Resources Corp. reported a record adjusted EBITDA of $1.4 billion for the first quarter of 2026, representing a 19% increase year-over-year.
- 2
Net income attributable to Targa Resources Corp. was $480 million for the first quarter of 2026, compared to $271 million for the first quarter of 2025.
- 3
The company completed the Falcon II processing plant in Permian Delaware in February 2026.
- 4
The East Pembrook processing plant in Permian Midland was completed in late March 2026.
- 5
Targa commenced operations of Train 11 fractionator in Mont Belvieu, TX, in April 2026.
- 6
The company is increasing its full year 2026 adjusted EBITDA estimate to a range of $5.7 billion to $5.9 billion.
- 7
Targa repurchased 227,801 shares of its common stock during the first quarter of 2026 at a weighted average price of $241.43 per share.
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