Targa Resources Corp. · TRGP · Next earnings

Targa Resources Corp. reports Thursday, Nov 5, 2026

TRGP reports before market open with consensus EPS at $2.74 and revenue at $4.77B. Last quarter: Targa posts record Q2 volumes, sees EBITDA near guidance high end

Reports Before market open1 day awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $2.74 Calendar consensus
Consensus revenue $4.77B Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 1 day away

Where TRGP left off: FY2026 Q2

Full report

Targa posts record Q2 volumes, sees EBITDA near guidance high end

EPS surprise +25.1% Reported $3.54 vs $2.83
Revenue surprise -9.3% Reported $4.44B vs $4.90B
Stock move +3.1% Event window
Subsequent drift +9.4% Up to 20 sessions

Management maintained FY2026 adjusted EBITDA guidance and expects results toward the top of the $5.7-$5.9 billion range.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Weather disruptions and natural-gas takeaway constraints.
  • Volatile Permian gas pricing and potentially lower second-half marketing optimization margins.
  • Project delays, long component lead times, fee floors, and commodity-market volatility.

Questions analysts left open

  • Future volume trajectory and the size of remaining shut-ins.
  • Cadence of new gas-processing plant additions and downstream fractionation capacity.
  • Sustainability of second-half marketing optimization benefits and fee-floor effects on profitability.

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Recent TRGP quarters

All TRGP earnings
+3.1%FY2026 Q2+1.2%FY2026 Q1-1.5%FY2025 Q4+5.3%FY2025 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.