Targa Resources Corp. Reports First Quarter 2021 Financial Results and Increases 2021 Financial Outlook
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Targa Resources (TRGP) Reports Q1 Revenues Above Consensus
May 6, 2021 6:10 AM EDTTarga Resources (NYSE: TRGP) reported Q1 revenue for the quarter came in at $3.63 billion versus the consensus estimate of $2.47 billion.
First Quarter 2021 - Sequential Quarter over Quarter Commentary
Targa reported first quarter 2021 Adjusted EBITDA of $515.7 million, representing an 18 percent increase over the fourth quarter 2020. The sequential increase in Adjusted EBITDA was primarily attributable to an aggregate benefit recognized from the severe winter storm in February 2021, lower operating and general and administrative expenses, and higher realized commodity prices. Targa estimates an aggregate benefit of approximately $30 million from the winter storm during the first quarter... More
