Targa Resources (NYSE: TRGP) reported revenue for the quarter came in at $4.26 billion versus the consensus estimate of $4.77 billion.

2025 Outlook

Targa continues to estimate full year 2025 adjusted EBITDA to be between $4.65 billion and $4.85 billion supported by forecasted growth across its Permian G&P footprint, which is expected to drive record Permian, NGL pipeline transportation, fractionation, and LPG export volumes in 2025 relative to records set in 2024. Based on current positive Permian volume trends, the Company expects to be positioned well for continued momentum in the second half of 2025 and into 2026.

With today’s announcement of earlier than expected completion of several projects, the Bull Run Extension and incremental spending for Targa’s next Permian gas processing expansions, the Company now estimates total net growth capital expenditures for 2025 of approximately $3.0 billion. Targa’s estimate for 2025 net maintenance capital expenditures remains unchanged at approximately $250 million.

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