TRGP · 10-Q · 2026Q2 · Full report

Operating Income and Margins

Targa Resources Corp. · 2026-08-06 · Importance 64 · Surprise 56 · Contradicted

Six-month adjusted EBITDA increased $664.3 million, or 28%, to $3,005.8 million, while income from operations increased $504.5 million, or 32%, to $2,081.4 million. Gathering and Processing six-month adjusted operating margin rose $293.2 million to $1,910.6 million as Permian inlet volumes increased 13% to 6,960.0 MMcf/d. Logistics and Transportation six-month adjusted operating margin increased $456.1 million, or 31%, to $1,936.1 million, supported by higher marketing, pipeline transportation, fractionation and LPG export margins. Other adjusted operating margin declined $38.9 million to a $7.2 million loss because of lower unrealized mark-to-market derivative gains.

Key facts

• Adjusted EBITDA for three months ended June 30, 2026: $1,603.1 million source
• Three months ended June 30, 2026 Net income (loss) attributable to Targa Resources Corp.: $764.6 million source
• Three months ended June 30, 2026 Income (loss) from operations: $1,234.5 million source
• Three months ended June 30, 2026 Net income (loss): $777.7 million source
• Income from operations for three months ended June 30, 2026: $1,234.5 million source
• Net income attributable to Targa Resources Corp. for three months ended June 30, 2026: $764.6 million source
• Net income attributable to common shareholders for six months ended June 30, 2026: $1,244.2 million source
• Net income per common share - basic for three months ended June 30, 2026: $3.54 source

Impact estimates