Targa Resources Partners LP (NGLS), a provider of midstream natural gas, natural gas liquid, terminaling, and crude oil gathering services, Friday reported a decline in net income, reflecting lower revenues, and higher expenses. Earnings also missed estimates.
For the first quarter, the company reported as $38.9 million or $0.16 per share, compared with $70.1 million or $0.63 per share during the comparable period last year.
On average, eleven analysts polled by Thomson Reuters expected earnings per share of $0.18 for the quarter. Analysts' estimates typically exclude one-time items.
The company reported Adjusted EBITDA of $132.2 million compared with $145.4 million during the corresponding quarter last year.
Revenues generated for the quarter was $1.39 billion compared with $1.64 billion during the same period previous year. Analysts expected the firm to record revenues of $1.68 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.