Targa Resources Corporation reported mixed Q1 2026 results. EPS of $2.50 slightly beat the $2.48 forecast, a 0.81% surprise. However, revenue fell short at $4.09 billion versus $4.74 billion expected, a 13.71% miss.
Adjusted EBITDA rose 5% sequentially to $1.4 billion, despite severe winter weather and weak natural gas prices. The company continues to expand infrastructure in the Permian Basin.
Shares dipped 0.55% in pre-market to $248.12 but recovered to $264.04. The stock has returned 60% over the past year, with a market cap of $56.61 billion and P/E of 26.92.
Targa raised full-year adjusted EBITDA guidance to $5.7-$5.9 billion. Dividend yield is 1.9%, with four consecutive years of increases.
