Targa Resources Corp. Q4 2025 Earnings Call Summary

Record 2025 performance was driven by an 11% increase in Permian volumes and record NGL transport, fractionation, and LPG export throughput. Management attributes growth to a combination of existing customer drilling activity and significant commercial success, adding several billion cubic feet per day of gas volumes beyond legacy dedications. The company is executing an aggressive 8-plant expansion plan over two years to provide 2.2 billion cubic feet per day of incremental processing capacity to mee ...