Targa Resources Q1 Net Income Rises; Increases 2026 Adj. EBITDA Estimate

(RTTNews) - Targa Resources (TRGP) reported that its first quarter net income attributable to common shareholders increased to $479.6 million from $200.0 million, prior year. Adjusted EBITDA was $1.4 billion, an increase of 19% year-over-year. Total revenues were $4.09 billion compared to $4.56 billion.

Targa now estimates 2026 adjusted EBITDA to be between $5.7 billion and $5.9 billion, a 17 percent increase year-over-year, based on the midpoint of the range.

In pre-market trading on NYSE, Targa Resources shares are up 1.99 percent to $254.46.

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