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]

Financial Performance - Targa Resources, Inc. reported revenue of $4.56 billion for the quarter ended March 2025, which is unchanged compared to the same period last year [1] - Earnings per share (EPS) for the quarter was $0.91, down from $1.22 in the year-ago quarter [1] - The reported revenue fell short of the Zacks Consensus Estimate of $5.31 billion, resulting in a surprise of -14.12% [1] - The company experienced an EPS surprise of -55.39%, with the consensus EPS estimate being $2.04 [1] Stock Performance - Targa Resources shares have returned -16.9% over the past month, compared to the Zacks S&P 500 composite's -0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3] Key Metrics - Gathering and Processing - NGL sales per day were 570.2 million barrels of oil, below the two-analyst average estimate of 577.97 million barrels [4] - Gathering and Processing - Gross NGL production (Coastal) was 32.7 million barrels of oil per day, exceeding the two-analyst average estimate of 31.89 million barrels [4] - Gathering and Processing - Condensate sales per day were 18.1 million barrels of oil, lower than the estimated 20.5 million barrels [4] - Logistics and Marketing - NGL sales were 1186.4 million barrels of oil per day, slightly below the estimated 1198.95 million barrels [4] - Logistics and Marketing - Export volumes were 447.7 million barrels of oil per day, compared to the estimated 455.64 million barrels [4] - Gathering and Processing - Total Plant natural gas inlet volumes were 7526.3 million cubic feet per day, below the estimated 7667.93 million cubic feet [4] - Average realized prices for Condensate were $72.32, slightly below the estimated $73.57 [4] - Average realized prices for Natural gas were $2.24, compared to the estimated $2.45 [4] - Average realized prices for NGL were $0.50, slightly below the estimated $0.51 [4]