Targa reports record Q1 adjusted EBITDA of $1.4B, raises FY2026 guidance to $5.7-5.9B

Targa Resources Corp.

2026-Q1 EPS reported $2.21 revenue$4,094,700,000

Q1 net income $480M vs $271M YoY; adjusted EBITDA $1,403M (+19% YoY).
Full-year 2026 adjusted EBITDA guidance raised to $5.7-5.9B (midpoint +17% YoY).
Quarterly dividend increased 25% to $1.25/share ($5.00 annualized), payable May 15.
Announced two new Permian processing plants (Roadrunner III, Copperhead II), starting Q1 2028.
Repurchased 227,801 shares at ~$241.43 for $55M in Q1; $1.32B remaining under program.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Targa Resources Corp. reported first quarter 2026 results: net income $480 million.

Period: first quarter 2026
Net income: $480 million
Result: reported results

Exact text from the filing

First quarter 2026 net income attributable to Targa Resources Corp. was $480 million compared to $271 million for the first quarter of 2025.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Targa Resources Corp. updated its full year 2026 guidance (raised).

Period: full year 2026
Guidance: raised
Result: guidance update

Exact text from the filing

Increasing full year 2026 adjusted EBITDA estimate to $5.7 billion to $5.9 billion

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Targa Resources Corp. filing history →

Source: SEC EDGAR

accession 0001193125-26-210165

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