Targa Resources 4Q Revenue, Earnings Rise But Miss Estimates

Dow Jones

02-20

By Denny Jacob

Targa Resources posted higher results in its fourth quarter but came in below what Wall Street was expecting.

The Houston natural-gas pipeline operator logged net income of $351 million compared to $299.6 million in the prior-year period. Analysts polled by FactSet expected $397.5 million.

Revenue rose to $4.41 billion from $4.24 billion. Analysts polled by FactSet expected $4.48 billion.

Targa forecast adjusted Ebitda between $4.65 billion and $4.85 billion for 2025, above analysts' estimates of $4.61 billion. The company expects to continue to benefit from meaningful growth across its Permian G&P footprint.

Targa said it also intends to recommend to its board that its quarterly dividend be increased to $1 a share from 75 cents a share in the first quarter of 2025.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 20, 2025 06:35 ET (11:35 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Analysts polled by FactSet expected $397.5 million. \n</p>\n<p>\n  Revenue rose to $4.41 billion from $4.24 billion. Analysts polled by FactSet expected $4.48 billion. \n</p>\n<p>\n  Targa forecast adjusted Ebitda between $4.65 billion and $4.85 billion for 2025, above analysts' estimates of $4.61 billion. 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