Compared to Estimates, Targa Resources, Inc. (TRGP) Q3 Earnings: A Look at Key Metrics
Targa Resources, Inc. (TRGP) reported $3.9 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 27.3%. EPS of $0.97 for the same period compares to $0.84 a year ago.
The reported revenue represents a surprise of -24.07% over the Zacks Consensus Estimate of $5.13 billion. With the consensus EPS estimate being $1.17, the EPS surprise was -17.09%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Targa Resources, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gathering and Processing - Plant natural gas inlet volumes - WestOK: 206.2 millions of cubic feet per day compared to the 209.88 millions of cubic feet per day average estimate based on two analysts.
Gathering and Processing - Plant natural gas inlet volumes - SouthOK: 394.6 millions of cubic feet per day versus the two-analyst average estimate of 391.42 millions of cubic feet per day.
Gathering and Processing - Plant natural gas inlet volumes - Total Field: 6387.8 millions of cubic feet per day versus 6455.71 millions of cubic feet per day estimated by two analysts on average.
Gathering and Processing - Total Plant natural gas inlet volumes: 6923.4 millions of cubic feet per day versus 7005.05 millions of cubic feet per day estimated by two analysts on average.
Gathering and Processing - Average realized prices - Condensate: $70.07 compared to the $73.54 average estimate based on two analysts.
Gathering and Processing - Average realized prices - Natural gas: $2.03 compared to the $1.75 average estimate based on two analysts.
Gathering and Processing - Average realized prices - NGL: $0.46 versus $0.44 estimated by two analysts on average.
Gathering and Processing - Plant natural gas inlet volumes - Badlands: 128.3 millions of cubic feet per day versus the two-analyst average estimate of 131.6 millions of cubic feet per day.
Gathering and Processing - Plant natural gas inlet volumes - Coastal: 535.6 millions of cubic feet per day versus the two-analyst average estimate of 549.34 millions of cubic feet per day.
Gathering and Processing - Plant natural gas inlet volumes - North Texas: 212 millions of cubic feet per day versus 206.18 millions of cubic feet per day estimated by two analysts on average.
Gathering and Processing - Plant natural gas inlet volumes - Permian Midland: 2566.9 millions of cubic feet per day versus 2539.29 millions of cubic feet per day estimated by two analysts on average.
Gathering and Processing - Plant natural gas inlet volumes - Permian Delaware: 2485.4 millions of cubic feet per day versus 2606.93 millions of cubic feet per day estimated by two analysts on average.
View all Key Company Metrics for Targa Resources, Inc. here>>>
Shares of Targa Resources, Inc. have returned +6.2% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Targa Resources, Inc. (TRGP) : Free Stock Analysis Report
