Targa (TRGP) Q4 Earnings and Revenues Miss Estimates

Targa Resources Corp. (TRGP) reported fourth-quarter 2023 earnings of $1.23 per share, which missed the Zacks Consensus Estimate of $1.49. The bottom line also deteriorated from the year-ago quarter’s level of $1.38. The underperformance could be attributed to lower commodity sales.Revenues totaled $4.2 billion, down 8.7% year over year. The top line also missed the Zacks Consensus Estimate of $4.5 billion.The company’s adjusted EBITDA for the fourth quarter totaled $959.9 million, up from $840.4 million in ...