Targa Resources Corp. (TRGP) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 4.09B | 4.06B | 4.2B | 4.03B | 4.85B | 4.41B | 3.89B | 3.62B | 4.56B | 4.23B | 3.88B | 3.21B | 4.3B | 4.55B | 5.36B | 6.23B | 4.96B | 5.44B | 4.54B | 3.53B |
| Revenue Growth % | -15.62% | -7.94% | 8.13% | 11.26% | 6.37% | 4.1% | 0.12% | 12.77% | 6.17% | -7.09% | -27.59% | -48.52% | -13.35% | -16.3% | 17.98% | 76.75% | 31.63% | 86.21% | 126.5% | 142.31% |
| Cost of Goods Sold | 2.82B | 2.31B | 3.22B | 3.13B | 3.93B | 3.3B | 3.02B | 2.84B | 3.56B | 3.51B | 3.3B | 2.67B | 3.6B | 3.65B | 4.59B | 5.53B | 4.41B | 4.79B | 4.03B | 3.11B |
| COGS % of Revenue | 68.88% | 56.9% | 76.72% | 77.82% | 80.96% | 74.93% | 77.75% | 78.39% | 78% | 82.93% | 85% | 83.32% | 83.82% | 80.23% | 85.7% | 88.78% | 88.99% | 88.01% | 88.63% | 88.08% |
| Gross Profit | 1.27B | 1.75B | 978.3M | 892.9M | 923.8M | 1.1B | 864.5M | 781.9M | 1B | 722.4M | 582.4M | 535.1M | 695.3M | 900.7M | 766.6M | 699.5M | 545.9M | 652.2M | 516.5M | 420.4M |
| Gross Margin % | 31.12% | 43.1% | 23.28% | 22.18% | 19.04% | 25.07% | 22.25% | 21.61% | 22% | 17.07% | 15% | 16.68% | 16.18% | 19.77% | 14.3% | 11.22% | 11.01% | 11.99% | 11.37% | 11.92% |
| Gross Profit Growth % | 37.93% | 58.3% | 13.16% | 14.2% | -7.98% | 52.85% | 48.44% | 46.12% | 44.38% | -19.8% | -24.03% | -23.5% | 27.37% | 38.1% | 48.42% | 66.39% | 0.39% | -10.84% | 62.88% | 103.39% |
| Operating Expenses | 427.3M | 830.5M | 93.6M | 84.3M | 87.7M | 403.7M | 100.5M | 98.4M | 364.5M | 95.3M | 90M | 81M | 82.4M | 349.3M | 336.6M | 70.4M | 250.1M | 743.8M | 65.8M | 63.3M |
| OpEx % of Revenue | 10.44% | 20.48% | 2.23% | 2.09% | 1.81% | 9.16% | 2.59% | 2.72% | 7.99% | 2.25% | 2.32% | 2.52% | 1.92% | 7.67% | 6.28% | 1.13% | 5.04% | 13.67% | 1.45% | 1.8% |
| Selling, General & Admin | 107.8M | 111.7M | 104.8M | 95M | 94.5M | 97.5M | 102.6M | 98.3M | 86.5M | 95.3M | 90M | 81M | 82.4M | 92.5M | 79.1M | 71M | 67.1M | 80.8M | 67.3M | 63.7M |
| SG&A % of Revenue | 2.63% | 2.75% | 2.49% | 2.36% | 1.95% | 2.21% | 2.64% | 2.72% | 1.9% | 2.25% | 2.32% | 2.52% | 1.92% | 2.03% | 1.48% | 1.14% | 1.35% | 1.48% | 1.48% | 1.81% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 100K | 1000K | 0 | 0 | 0 | 0 | 1000K | 1000K | -600K | 1000K | 1000K | -1000K | -400K |
| Operating Income | 846.9M | 917.4M | 884.7M | 808.6M | 836.1M | 700.5M | 764M | 683.5M | 639.4M | 627.1M | 492.4M | 454.1M | 612.9M | 551.4M | 430M | 629.1M | 295.8M | -91.6M | 450.7M | 357.1M |
| Operating Margin % | 20.68% | 22.62% | 21.06% | 20.08% | 17.23% | 15.9% | 19.66% | 18.89% | 14.01% | 14.82% | 12.69% | 14.15% | 14.26% | 12.11% | 8.02% | 10.09% | 5.96% | -1.68% | 9.92% | 10.13% |
| Operating Income Growth % | 1.29% | 30.96% | 15.8% | 18.3% | 30.76% | 11.7% | 55.16% | 50.52% | 4.32% | 13.73% | 14.51% | -27.82% | 107.2% | 701.97% | -4.59% | 76.17% | -38.67% | -113.94% | 74.83% | 146.62% |
| EBITDA | 1.27B | 1.31B | 1.27B | 1.18B | 1.2B | 1.08B | 1.12B | 1.03B | 979.9M | 969.9M | 825.1M | 787.7M | 939.3M | 881.2M | 717.2M | 900.1M | 504.9M | 128.1M | 674.5M | 570.1M |
| EBITDA Margin % | 31.09% | 32.25% | 30.18% | 29.37% | 24.8% | 24.49% | 28.83% | 28.57% | 21.48% | 22.92% | 21.26% | 24.55% | 21.86% | 19.35% | 13.38% | 14.44% | 10.18% | 2.35% | 14.85% | 16.17% |
| EBITDA Growth % | 5.75% | 21.21% | 13.19% | 14.38% | 22.84% | 11.25% | 35.79% | 31.23% | 4.32% | 10.07% | 15.04% | -12.49% | 86.04% | 587.9% | 6.33% | 57.88% | -27.81% | -85.38% | 45.87% | 62.75% |
| D&A (Non-Cash Add-back) | 426M | 390.5M | 383.5M | 373.7M | 367.6M | 378.5M | 356.4M | 350.2M | 340.5M | 342.8M | 332.7M | 333.6M | 326.4M | 329.8M | 287.2M | 271M | 209.1M | 219.7M | 223.8M | 213M |
| EBIT | 846.9M | 908.2M | 842.2M | 1.04B | 549.1M | 702.1M | 730M | 629.2M | 639.4M | 638.1M | 508M | 650.5M | 833.5M | 551.3M | 417.1M | 855.9M | 295.8M | -154.2M | 381M | 256.8M |
| Net Interest Income | 0 | -216M | -221.3M | -218.4M | -197.1M | -177.7M | -184.9M | -176M | -228.6M | -178M | -175.1M | -166.6M | -168M | -145.6M | -125.8M | -81.2M | -93.6M | -103.7M | -91M | -94.8M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 216M | 221.3M | 218.4M | 197.1M | 177.7M | 184.9M | 176M | 228.6M | 178M | 175.1M | 166.6M | 168M | 145.6M | 125.8M | 81.2M | 93.6M | 103.7M | 91M | 94.8M |
| Other Income/Expense | -235.6M | -225.2M | -263.8M | 12.7M | -484.1M | -176.1M | -218.9M | -230.3M | -224.1M | -167M | -159.5M | 29.8M | 52.6M | -145.7M | -138.7M | 145.6M | -104.3M | -166.3M | -160.7M | -195.1M |
| Pretax Income | 611.3M | 692.2M | 620.9M | 821.3M | 352M | 524.4M | 545.1M | 453.2M | 415.3M | 460.1M | 332.9M | 483.9M | 665.5M | 405.7M | 291.3M | 774.7M | 191.5M | -257.9M | 290M | 162M |
| Pretax Margin % | 14.93% | 17.07% | 14.78% | 20.4% | 7.25% | 11.9% | 14.03% | 12.52% | 9.1% | 10.87% | 8.58% | 15.08% | 15.49% | 8.91% | 5.43% | 12.43% | 3.86% | -4.74% | 6.38% | 4.59% |
| Income Tax | 123.9M | 139.1M | 134.3M | 184.1M | 72.2M | 110.4M | 97M | 94.3M | 82.7M | 102.5M | 53.9M | 96.4M | 110.3M | 9.8M | 12M | 87.1M | 22.9M | -8.7M | 2M | 6.6M |
| Effective Tax Rate % | 20.27% | 20.1% | 21.63% | 22.42% | 20.51% | 21.05% | 17.79% | 20.81% | 19.91% | 22.28% | 16.19% | 19.92% | 16.57% | 2.42% | 4.12% | 11.24% | 11.96% | 3.37% | 0.69% | 4.07% |
| Net Income | 479.6M | 545M | 475.5M | 625.1M | 198.8M | 351M | 384.5M | 296.2M | 275.2M | 277.7M | 217.8M | 325.7M | 6.3M | 318M | 193.1M | 596.4M | 88M | -313.6M | 182.2M | 56.2M |
| Net Margin % | 11.71% | 13.44% | 11.32% | 15.53% | 4.1% | 7.97% | 9.89% | 8.19% | 6.03% | 6.56% | 5.61% | 10.15% | 0.15% | 6.98% | 3.6% | 9.57% | 1.77% | -5.76% | 4.01% | 1.59% |
| Net Income Growth % | 141.25% | 55.27% | 23.67% | 111.04% | -27.76% | 26.4% | 76.54% | -9.06% | 4268.25% | -12.67% | 12.79% | -45.39% | -92.84% | 201.4% | 5.98% | 961.21% | -39.89% | -1033.33% | 162.91% | -30.62% |
| Net Income (Continuing) | 487.4M | 553.1M | 486.6M | 637.2M | 279.8M | 414M | 448.1M | 358.9M | 332.6M | 357.6M | 279M | 387.5M | 555.2M | 395.9M | 279.3M | 687.6M | 168.6M | -249.2M | 288M | 155.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 132.5M | 130.3M | 127M | 123.3M | 121.2M | 1.83B | 1.88B | 1.88B | 1.87B | 1.87B | 1.87B | 1.86B | 1.86B | 2.32B | 2.35B | 2.33B | 2.32B | 3.17B | 3.21B | 3.21B |
| EPS (Diluted) | 2.21 | 2.53 | 2.20 | 2.88 | 0.91 | 1.45 | 1.75 | 1.33 | 1.22 | 1.25 | 0.97 | 1.44 | 0.03 | 1.41 | 0.84 | 1.61 | 0.06 | -1.47 | 0.58 | 0.15 |
| EPS Growth % | 143.12% | 74.41% | 25.88% | 115.76% | -25.52% | 16.28% | 80.62% | -7.05% | 4337.82% | -11.3% | 15.4% | -10.72% | -51.24% | 195.7% | 44.49% | 981.78% | -87.57% | - | 267.74% | -28.92% |
| EPS (Basic) | 2.23 | 2.53 | 2.21 | 2.89 | 0.91 | 1.45 | 1.76 | 1.34 | 1.23 | 1.25 | 0.97 | 1.44 | 0.03 | 1.41 | 0.85 | 1.64 | 0.06 | -1.47 | 0.70 | 0.15 |
| Diluted Shares Outstanding | 215M | 215M | 216M | 217.3M | 218.7M | 221.3M | 220M | 221.9M | 223.7M | 222.61M | 225.1M | 226.8M | 229.3M | 230.2M | 230.3M | 231.7M | 232.4M | 276.4M | 276.4M | 231.3M |
| Basic Shares Outstanding | 215M | 215M | 215.2M | 216.6M | 217.9M | 220.2M | 219M | 221M | 222.8M | 222.61M | 223.8M | 225.6M | 226.4M | 226.85M | 226.6M | 227.8M | 228.5M | 228.8M | 228.8M | 228.6M |
| Dividend Payout Ratio | 45.64% | 39.6% | 45.62% | 34.94% | 84.1% | 46.98% | 43.28% | 56.58% | 42.37% | 40.51% | 52.89% | 35.09% | 1353.97% | 25.44% | 41.95% | 18.41% | 122.73% | - | 26.07% | 79.54% |