Targa Resources (TRGP) Reports Q1 Revenues Miss

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Targa Resources Corp. Reports First Quarter 2020 Financial Results

May 7, 2020 6:00 AM EDT

HOUSTON, May 07, 2020 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (TRC, the Company or Targa) today reported first quarter 2020 results.

First Quarter 2020 Financial Results

First quarter 2020 net loss attributable to Targa Resources Corp. was $(1,737.8) million compared to a net loss of $(38.9) million for the first quarter of 2019. The first quarter of 2020 included a pre-tax non-cash loss of $2,442.8 million from the impairment of long-lived assets that include a $2,234.2 million non-cash pre-tax impairment of property, plant and equipment and a $208.6 million non-cash pre-tax impairment of intangible assets. The... More