Targa Resources (TRGP) Reports Q3 Earnings: What Key Metrics Have to Say

For the quarter ended September 2025, Targa Resources, Inc. (TRGP) reported revenue of $4.15 billion, up 7.8% over the same period last year. EPS came in at $2.20, compared to $1.75 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $4.93 billion, representing a surprise of -15.75%. The company delivered an EPS surprise of -1.35%, with the consensus EPS estimate being $2.23.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Targa Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Gathering and Processing - NGL sales per day: 634.8 millions of barrels of oil per day versus 621.65 millions of barrels of oil per day estimated by two analysts on average.
• Gathering and Processing - Gross NGL production - Coastal: 36.9 millions of barrels of oil versus 32.22 millions of barrels of oil estimated by two analysts on average.
• Gathering and Processing - Condensate sales per day: 18 millions of barrels of oil per day compared to the 20.54 millions of barrels of oil per day average estimate based on two analysts.
• Logistics and Marketing - NGL sales: 1249.3 millions of barrels of oil versus the two-analyst average estimate of 1211.04 millions of barrels of oil.
• Logistics and Marketing - Export volumes: 407.4 millions of barrels of oil compared to the 427.27 millions of barrels of oil average estimate based on two analysts.
• Logistics and Marketing - Fractionation volumes: 1134.3 millions of barrels of oil versus the two-analyst average estimate of 997.45 millions of barrels of oil.
• Gathering and Processing - Total Plant natural gas inlet volumes: 8268.4 millions of cubic feet versus the two-analyst average estimate of 8137.9 millions of cubic feet.
• Gathering and Processing - Total Gross NGL production: 1095.1 millions of barrels of oil versus the two-analyst average estimate of 1051.75 millions of barrels of oil.
• Gathering and Processing - Average realized prices - Condensate: $67.75 compared to the $65.59 average estimate based on two analysts.
• Gathering and Processing - Average realized prices - Natural gas: $1.20 versus the two-analyst average estimate of $1.75.
• Gathering and Processing - Average realized prices - NGL: $0.39 compared to the $0.44 average estimate based on two analysts.
• Gathering and Processing - Plant natural gas inlet volumes - Badlands: 129.9 millions of cubic feet versus the two-analyst average estimate of 131.86 millions of cubic feet.

View all Key Company Metrics for Targa Resources here>>>

Shares of Targa Resources have returned -7.1% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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