Targa Resources, Inc. (TRGP) Misses Q1 Earnings and Revenue Estimates

Targa Resources reported quarterly EPS of $2.21, missing the Zacks Consensus Estimate of $2.55 by $0.34 per share, or about 13%. The result was still well above the $0.91 earned a year ago, indicating strong year-over-year improvement despite the earnings miss. The headline is likely to pressure the stock modestly, but the scale of the miss is not severe.

Analysis

Targa Resources reported quarterly EPS of $2.21, missing the Zacks Consensus Estimate of $2.55 by $0.34 per share, or about 13%. The result was still well above the $0.91 earned a year ago, indicating strong year-over-year improvement despite the earnings miss. The headline is likely to pressure the stock modestly, but the scale of the miss is not severe.