Targa Resources shares fall on lower-than-expected Q1 revenue

Targa Resources

01/05/2025 17:47

** Shares of Targa Resources Corp TRGP.N fall 4.3% to $163.50

** The pipeline operator reports lower-than-expected revenue in Q1, hurt by lower volumes across Targa's gathering and processing and logistics and transportation system

** Says, was negatively impacted by winter weather events which reduced system volumes

** Q1 revenue $4.56 billion vs analyst's estimate of $4.89 billion - data compiled by LSEG

** TRGP's adjusted core profit rose 5% to $1.18 billion vs estimates of $1.16 billion

** Including session's moves, company's shares down 8.4% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))