Targa Resources (TRGP) Reports Q4 Revenues Above Consensus

Targa Resources (NYSE: TRGP) reported Q4 revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.22 billion.

Fourth quarter 2020 net income (loss) attributable to Targa Resources Corp. was $33.6 million compared to ($112.8) million for the fourth quarter of 2019. In the fourth quarter of 2019, the Company recorded a non-cash pre-tax impairment charge of $225.3 million for the partial impairment of certain gas processing facilities and gathering systems associated with Targa’s Central and Coastal operations. For the full year 2020, net income (loss) attributable to Targa was ($1,553.9) million compared to ($209.2) million for 2019. In 2020, the Company recorded a non-cash pre-tax impairment charge of $2,442.8 million for the partial impairment of certain gas processing facilities and gathering systems associated with Targa’s Central operations and full impairment of Targa’s Coastal operations - all of which are in the Gathering and Processing segment.

For earnings history and earnings-related data on Targa Resources (TRGP) click here.

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