For the quarter ended June 2026, Targa Resources, Inc. (TRGP) reported revenue of $4.44 billion, up 4.2% over the same period last year. EPS came in at $3.54, compared to $2.87 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $4.95 billion, representing a surprise of -10.35%. The company delivered an EPS surprise of +25.09%, with the consensus EPS estimate being $2.83.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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: 680.8 millions of barrels of oil per day versus 665.02 millions of barrels of oil per day estimated by two analysts on average.
  • Gathering and Processing - Gross NGL production - Coastal: 38.7 millions of barrels of oil versus 38.36 millions of barrels of oil estimated by two analysts on average.
  • Gathering and Processing - Condensate sales per day: 22.4 millions of barrels of oil per day versus the two-analyst average estimate of 21.59 millions of barrels of oil per day.
  • Logistics and Marketing - NGL sales: 1310.9 millions of barrels of oil compared to the 1222.45 millions of barrels of oil average estimate based on two analysts.
  • Logistics and Marketing - Export volumes: 487.1 millions of barrels of oil compared to the 435.14 millions of barrels of oil average estimate based on two analysts.
  • Logistics and Marketing - Fractionation volumes: 1206.1 millions of barrels of oil compared to the 1166.05 millions of barrels of oil average estimate based on two analysts.
  • Gathering and Processing - Total Plant natural gas inlet volumes: 8908.9 millions of cubic feet versus 8639.05 millions of cubic feet estimated by two analysts on average.
  • Gathering and Processing - Total Gross NGL production: 1180.8 millions of barrels of oil versus the two-analyst average estimate of 1131.45 millions of barrels of oil.
  • Gathering and Processing - Average realized prices - Condensate: $90.57 versus $85.35 estimated by two analysts on average.
  • Gathering and Processing - Average realized prices - Natural gas: $-2.48 versus $1.46 estimated by two analysts on average.
  • Gathering and Processing - Average realized prices - NGL: $0.48 compared to the $0.51 average estimate based on two analysts.
  • Gathering and Processing - Plant natural gas inlet volumes - Badlands: 133.8 millions of cubic feet versus 129.34 millions of cubic feet estimated by two analysts on average.

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

Shares of Targa Resources have returned -6.4% over the past month versus the Zacks S&P 500 composite's +3.3% 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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Targa Resources, Inc. (TRGP): Free Stock Analysis Report

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

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