Targa Resources

Q2 FY2026 EarningsQ2 FY2026 results significantly exceeded consensus expectations across the board, led by a strong EPS beat ($2.83 vs. $2.83 mean, but net income $765M vs. $607M expected) and robust Adjusted EBITDA of $1.6B (+38% YoY). While revenue of $4.44B missed the $4.90B consensus by 9.3%, profitability metrics were driven by record Permian inlet volumes and Logistics & Transportation optimization. Management raised FY2026 Adjusted EBITDA guidance to the top end of the $5.7B - $5.9B range, signaling continued strength in AI-driven energy demand and Permian activity.