Filing Flows › Targa Resources (TRGP) › Guidance history
Targa Resources (TRGP) guidance history: what it guided and what it reported
Targa Resources gave guidance in 12 earnings releases on file since Feb 15, 2024. Its releases raised guidance 6 times and lowered it 0 times.
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $4.5B (Feb 19, 2026) → reaffirmed $4.5B (May 7, 2026) → reaffirmed $4.5B (Aug 6, 2026) → raised $5.0B (Nov 5, 2026) | — | to be reported | — |
| FY2025 | $2.6B–$2.8B (Feb 20, 2025) → reaffirmed $2.6B–$2.8B (May 1, 2025) → raised $3.0B (Aug 7, 2025) → raised $3.3B (Nov 5, 2025) | $3.3B (GAAP) | not judged | — |
| FY2024 | $2.3B–$2.5B (Feb 15, 2024) → reaffirmed $2.3B–$2.5B (May 2, 2024) → raised $2.7B (Aug 1, 2024) | $3.0B (GAAP) | not judged | — |
Adjusted EBITDA
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $5.4B–$5.6B (Feb 19, 2026) → raised $5.7B–$5.9B (May 7, 2026) → reaffirmed $5.7B–$5.9B (Aug 6, 2026) → raised $6.0B (Nov 5, 2026) | — | to be reported | — |
| FY2025 | $4.7B–$4.8B (Feb 20, 2025) → reaffirmed $4.7B–$4.8B (May 1, 2025) → reaffirmed $4.7B–$4.8B (Aug 7, 2025) → reaffirmed $4.7B–$4.8B (Nov 5, 2025) | — | — | — |
| FY2024 | $3.7B–$3.9B (Feb 15, 2024) → reaffirmed $3.7B–$3.9B (May 2, 2024) → raised $4.0B–$4.0B (Aug 1, 2024) → reaffirmed $4.0B–$4.0B (Nov 5, 2024) | — | — | — |
The latest quarter
Targa Resources, Q3 2026: revenue $5.6B (+35% year over year), operating margin 19.6%, net earnings $658M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
Questions
Does Targa Resources beat its guidance?
Targa Resources gave guidance in 12 earnings releases on file since Feb 15, 2024. Its releases raised guidance 6 times and lowered it 0 times.
How often does Targa Resources raise guidance?
Its earnings releases raised guidance 6 times and lowered it 0 times since Feb 15, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.