FINHUB Insights

TRGP · Q1 FY26 · Mar 31, 2026

Targa Resources Q1 FY26: where the revenue came from and where it went

Targa Resources Q1 FY26: revenue $4.1B (−10% year over year). Net profit $0.5B. Largest cohort Natural Gas Liquids Reserves $3B. The whole income statement as a sankey diagram from the SEC filing.

Period
Mar 31, 2026
Reported
May 7, 2026 10-Q
Sankey diagram of Targa Resources's income statement for Q1 FY26: revenue of $4.1 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$4.1B −10% year over year
Gross profit$1.7B 42% margin
Operating profit$0.8B 21% margin
Net profit$0.5B 12% margin

The numbers

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueShare of revenueYear over year
Revenue 4.1 100% −10%
Natural Gas Liquids Reserves 3 73% −12%
Gathering and Processing Fees 0.6 15% +19%
Natural Gas Reserves 0.5 12% −31%
NGL Transportation Fractionation… 0.1 2% −6%
Cost of revenue−2.459%
Gross profit1.742% margin+13pp
G&A−0.13%+1pp
Other−0.818%+0pp
Operating profit0.821% margin+9pp
Tax−0.1
Interest & other costs−0.2
Net profit0.512%+6pp
Filing on EDGAR More quarters of TRGP

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

Older quarters