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Revenue by Segment
Shows how much cash each business line brings in — for Targa, that means gathering, processing, fractionation, transportation and storage. Reveals the mix between fee-based and commodity-sensitive revenue, where growth is coming from, and how exposed the company is to swings in energy volumes and prices.Logistics & Transportation and Gathering & Processing are the clear, steady revenue drivers—their recovery after 2023 softness validates management’s upward EBITDA revision and justifies heavy growth capex—while ‘Other’ is erratic (one‑offs/marketing/MTM noise) and Corporate & Eliminations remain a persistent negative that has modestly narrowed. Near‑term quarter‑to‑quarter swings tie to Waha basis curtailments and an LPG outage; upcoming egress and fractionation projects are the real catalyst to turn that volatility into sustainable top‑line and margin upside.
Date | Other | Corporate & Eliminations | Gathering & Processing | Logistics & Transportation |
|---|---|---|---|---|
Jun 30, 2026 | $10.10M | -$469.30M | $1.31B | $3.50B |
Mar 31, 2026 | -$110.30M | -$983.70M | $1.78B | $3.41B |
Dec 31, 2025 | -$500.00K | -$953.70M | $1.60B | $3.41B |
Sep 30, 2025 | -$36.50M | -$1.22B | $1.87B | $3.53B |
Jun 30, 2025 | $280.50M | -$1.19B | $1.75B | $3.42B |
Mar 31, 2025 | -$248.80M | -$1.58B | $2.19B | $4.20B |
Dec 31, 2024 | -$171.40M | -$1.28B | $1.91B | $3.86B |
Sep 30, 2024 | -$17.70M | -$921.60M | $1.57B | $3.22B |
Jun 30, 2024 | $46.60M | -$905.70M | $1.52B | $3.00B |
Mar 31, 2024 | -$22.10M | -$1.18B | $1.81B | $3.95B |