Targa Resources (TRGP) Reports Q4 Revenues Below Consensus
Targa Resources (NYSE: TRGP) reported Q4 revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.75 billion.
“The strength of our execution and performance during 2018 drove record Adjusted EBITDA, providing Targa with positive momentum for 2019 and beyond,” said Joe Bob Perkins, Chief Executive Officer of the Company. “Key projects are coming online for us in 2019, including additional Gathering and Processing facilities, another fractionator in Mont Belvieu, Texas, and our Grand Prix NGL Pipeline, which will connect much of our G&P NGL supply to Mont Belvieu. These projects are all expected to be highly utilized as we continue to support the needs of our customers, and will drive increasing, largely fee-based, cash flow growth for Targa. We remain focused on execution to enhance our already attractive long-term outlook.”
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