The earnings call reflected a strong operational performance with record volumes and solid financial results, supported by strategic capital allocations like share repurchases. However, challenges such as commodity price volatility and operational impacts from planned maintenance were noted. Overall, positive growth momentum outstrips the issues faced.

Company Guidance

During the second quarter of 2025, Targa Resources Corp. reported a strong financial performance and operational results, highlighted by record Permian and NGL transportation volumes. The company experienced a significant increase in gas volumes on its Permian system, adding approximately 270 million cubic feet per day during the quarter and an additional 250 million cubic feet per day in July. Targa's adjusted EBITDA for the quarter was $1.163 billion, an 18% increase from the previous year, driven by higher Permian volumes and a full ownership stake in the Badlands assets. The company maintained its 2025 adjusted EBITDA guidance range of $4.65 billion to $4.85 billion. Targa's net growth capital spending for 2025 is expected to be $3 billion, with a net maintenance capital spending estimate of $250 million. The company also executed $324 million in common share repurchases during the quarter and announced a new $1 billion share repurchase program, maintaining a focus on capital allocation strategies that support shareholder value.

Record Permian Volumes

Permian volumes reached record levels with natural gas inlet volumes averaging 6.3 billion cubic feet per day, marking an 11% increase year-over-year.

NGL Transportation and Fractionation Records

NGL pipeline transportation volumes reached a record 961,000 barrels per day, and fractionation volumes averaged 969,000 barrels per day.

Strong Financial Performance

Reported adjusted EBITDA for Q2 was $1.163 billion, an 18% increase from the previous year.

Permian Gas Production Growth

Permian gas production has grown at a higher rate than crude production, with associated gas growth averaging 13% annually over the past five years.

Share Repurchases

The company repurchased $324 million in common shares during Q2 and announced a new $1 billion share repurchase program.

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

Daily Earnings Calendar >

TRGP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	2.04 / -	1.76	―	―	―
Aug 07, 2025	2025 (Q2)	1.86 / 2.90	1.35	114.81% (+1.55)
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)

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
Aug 07, 2025	$163.05	$166.89	+2.36%
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%

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 Oct 30, 2025, Before Open (Confirmed).

What is Targa Resources (TRGP) earnings time?

Targa Resources (TRGP) earnings time is at Oct 30, 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 (Q3) is 2.04.

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