TRGP · 8-K · 20261105PR448401

Revenue Performance and Mix

Targa Resources Corp. · 2026-11-05 · Importance 64 · Surprise 56 · In source text

Third-quarter 2026 total revenue increased 35% year over year to $5.599 billion, while nine-month revenue rose 9% to $14.133 billion. Third-quarter commodity sales increased 36% to $4.723 billion, reflecting $801.5 million from higher NGL, natural gas and condensate prices, $383.0 million from higher volumes, and a $68.5 million favorable hedge impact. Midstream-service fees rose 29% to $875.7 million in the quarter and 25% to $2.473 billion for the first nine months, driven primarily by higher gathering and processing, transportation and fractionation fees.

Key facts

• Targa’s Q3 2026 consolidated revenues were $5,598.6 million, up 35% year over year. source
• Targa’s Q3 2026 commodity sales were $4,722.9 million, up 36% year over year. source
• Targa’s Q3 2026 fees from midstream services were $875.7 million, up 29% year over year. source
• The increase in Q3 2026 commodity sales reflected $801.5 million from higher NGL, natural gas, and condensate prices, $383.0 million from higher volumes, and $68.5 million from the favorable impact of hedges. source

Impact estimates