Targa Resources (TRGP) Q1 Earnings Miss Estimates, Rise Y/Y

Targa Resources Corp. (TRGP) reported first-quarter 2024 earnings of $1.22 per share, which missed the Zacks Consensus Estimate of$ 1.35. The underperformance could be attributed to lower commodity sales and increased operating expenses. However, the bottom line improved from the year-ago quarter’s level of 3 cents. Revenues totaled $4.6 billion, up 0.9 % year over year, due to strong volumes across its systems. The top line also beat the Zacks Consensus Estimate of$ 4.3 billion.The company’s adjusted EBITD ...