Compared to Estimates, Targa Resources (TRGP) Q2 Earnings: A Look at Key Metrics

Core Insights - Targa Resources, Inc. reported $4.26 billion in revenue for Q2 2025, a year-over-year increase of 19.6%, with an EPS of $2.87 compared to $1.33 a year ago, indicating strong earnings growth despite missing revenue estimates by 12.19% [1] - The company delivered an EPS surprise of +50.26%, exceeding the consensus EPS estimate of $1.91 [1] Financial Performance - Targa Resources' stock has returned -4.5% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change, and currently holds a Zacks Rank 3 (Hold) [3] - Key metrics for Targa Resources include: - NGL sales per day: 606.4 million barrels, exceeding the average estimate of 591.25 million barrels [4] - Gross NGL production (Coastal): 31.6 million barrels, slightly below the estimate of 32.03 million barrels [4] - Condensate sales per day: 20.1 million barrels, above the estimate of 19.31 million barrels [4] - Logistics and Marketing NGL sales: 1151.1 million barrels, surpassing the estimate of 1093.79 million barrels [4] - Export volumes: 423.1 million barrels, below the estimate of 443.45 million barrels [4] - Fractionation volumes: 969.1 million barrels, below the estimate of 1106.38 million barrels [4] - Total Plant natural gas inlet volumes: 7894 million cubic feet, above the estimate of 7645.53 million cubic feet [4] - Total Gross NGL production: 1025.2 million barrels, exceeding the estimate of 990.94 million barrels [4] - Average realized prices for Condensate: $63.79, above the estimate of $62.47 [4] - Average realized prices for Natural gas: $1.01, below the estimate of $1.75 [4] - Average realized prices for NGL: $0.41, slightly below the estimate of $0.45 [4] - Plant natural gas inlet volumes (Badlands): 130.9 million cubic feet, below the estimate of 141.6 million cubic feet [4]