Compared to Estimates, Targa Resources (TRGP) Q4 Earnings: A Look at Key Metrics

Financial Performance - Targa Resources, Inc. reported revenue of $4.06 billion for the quarter ended December 2025, a decrease of 7.9% compared to the same period last year [1] - The earnings per share (EPS) was $2.51, an increase from $1.44 in the year-ago quarter, resulting in an EPS surprise of +5.15% against the consensus estimate of $2.39 [1] Market Comparison - Targa Resources' stock has returned +19.8% over the past month, contrasting with the Zacks S&P 500 composite's decline of -0.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Key Metrics - Gathering and Processing - NGL sales per day were 650.6 million barrels, below the average estimate of 922.53 million barrels by two analysts [4] - Gathering and Processing - Gross NGL production in Coastal areas was 37.5 million barrels, exceeding the estimate of 35.28 million barrels [4] - Logistics and Marketing - NGL sales reached 1261.2 million barrels, slightly above the estimate of 1260.49 million barrels [4] - Average realized prices for condensate were $62.14, higher than the estimated $59.59 [4] - Average realized prices for natural gas were $0.38, significantly lower than the estimated $2.24 [4]