Targa Resources Beats Q3 2026 Estimates as Revenue Rises 33% to $5.60B

Targa Resources (TRGP) beat estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $5.60 billion, up 33% from a year earlier, above the $4.77 billion estimate, and adjusted EPS was $2.76, up 25% from a year earlier, above the $2.74 estimate.

Shares rose 0.9% in premarket trading as of 8:20 a.m. ET, to $287.70 from a $285.00 close.

Q3 2026 scorecard

By our calculation, revenue was $831.0 million above the estimate and adjusted EPS was $0.02 above it. The QoQ column compares with the previous quarter's revenue of $4.44 billion and adjusted EPS of $3.54. The YoY column compares with $4.20 billion and $2.20 in the same quarter a year earlier.

Track record

• EPS record. Adjusted EPS beat the estimate in 5 of the last 8 reports, including this one.
• Revenue record. Revenue beat the estimate in 1 of the last 8 reports.
• Revenue trend. Revenue over the last 5 reports, oldest first: $4.20 billion, $4.06 billion, $4.09 billion, $4.44 billion and $5.60 billion.

What to watch

• Next-quarter estimates. Consensus calls for EPS of $2.80 and revenue of $5.15 billion next quarter, based on 5 analysts.
• Next report. Targa Resources is next expected to report on Feb. 25, 2027.
• Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 33% increase to $5.60 billion.
• Related coverage. See our reports on Loar, Lightspeed Commerce, DTE Energy and ConocoPhillips.

Sources: Results are from Targa Resources's Nov. 5, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Targa Resources's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.