The earnings call highlighted a record quarter for Targa Resources with strong financial performance, significant share repurchases, and robust growth in the Permian Basin volumes. Despite some challenges from winter weather and potential cost impacts from global tariffs, the company maintains a positive outlook with a strong financial position and increased dividends.

Company Guidance -

Q2 2025

During Targa Resources Corp.'s first-quarter 2025 earnings call, the company provided a robust outlook, highlighting several key metrics. Targa achieved record quarterly adjusted EBITDA of $1.179 billion, representing a 22% increase from the previous year, driven by higher Permian volumes and full ownership of its Badlands assets. The company maintained its full-year adjusted EBITDA guidance of $4.65 billion to $4.85 billion. Targa successfully repurchased $215 million worth of common shares and declared a 33% increase in its common dividend for the first quarter. Operationally, Targa's natural gas inlet volumes in the Permian averaged over 6 billion cubic feet per day, an 11% increase from a year ago, despite winter weather impacts. The company forecasts net growth capital spending for 2025 to be between $2.6 billion and $2.8 billion, with net maintenance capital spending estimated at $250 million. Targa's financial position remains strong, with a pro forma consolidated leverage ratio of approximately 3.6x and $2.7 billion of available liquidity. The company continues to focus on maintaining a strong balance sheet, investing in high-return projects, and returning capital to shareholders through dividends and opportunistic share repurchases.

Record Quarterly Adjusted EBITDA

Targa Resources Corp. reported record quarterly adjusted EBITDA of $1.179 billion, a 22% increase from a year ago, driven by higher Permian volumes and 100% ownership of Badlands assets.

Significant Share Repurchases

Targa opportunistically repurchased nearly $215 million worth of common shares so far in 2025, with $125 million repurchased in Q1 at an average price of $191.86 per share.

Strong Financial Position

The company ended Q1 with $2.7 billion of available liquidity and a pro forma consolidated leverage ratio of 3.6x, well within the long-term target range of 3x to 4x.

Permian Basin Volume Growth

Natural gas inlet volumes averaged over 6 billion cubic feet per day, an 11% increase from a year ago, despite winter weather impacts.

Increased Common Dividend

Declared a 33% increase to the common dividend for Q1 2025 relative to 2024.

Targa Resources (TRGP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TRGP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 07, 2025	2025 (Q2)	1.86 / -	1.35	―	―	―
May 01, 2025	2025 (Q1)	1.98 / 0.92	1.23	-25.20% (-0.31)
Feb 20, 2025	2024 (Q4)	1.92 / 1.45	1.24	16.94% (+0.21)
Nov 05, 2024	2024 (Q3)	1.56 / 1.76	0.98	79.59% (+0.78)
Aug 01, 2024	2024 (Q2)	1.28 / 1.35	1.45	-6.90% (-0.10)
May 02, 2024	2024 (Q1)	1.31 / 1.23	0.03	4000.00% (+1.20)
Feb 15, 2024	2023 (Q4)	1.46 / 1.24	1.38	-10.14% (-0.14)
Nov 02, 2023	2023 (Q3)	1.19 / 0.98	0.84	16.67% (+0.14)
Aug 03, 2023	2023 (Q2)	1.23 / 1.45	1.61	-9.94% (-0.16)
May 04, 2023	2023 (Q1)	1.44 / 0.03	0.06	-50.00% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TRGP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 01, 2025	$169.88	$161.37	-5.01%
Feb 20, 2025	$207.86	$202.33	-2.66%
Nov 05, 2024	$166.63	$174.71	+4.85%
Aug 01, 2024	$132.63	$133.43	+0.60%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Targa Resources (TRGP) report earnings?

Targa Resources (TRGP) is schdueled to report earning on Aug 07, 2025, Before Open (Confirmed).

What is Targa Resources (TRGP) earnings time?

Targa Resources (TRGP) earnings time is at Aug 07, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TRGP EPS forecast?

TRGP EPS forecast for the fiscal quarter 2025 (Q2) is 1.86.

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