| TRGP |
Report |
Adjusted EBITDA |
BEAT |
pred ~$1.54B vs. cons $1.51B |
MEDIUM |
| TRGP |
Report |
Permian natural-gas inlet volumes |
IN-LINE |
pred ~7.00 Bcf/d vs. cons 7.00 Bcf/d |
MEDIUM |
| TRGP |
Report |
LPG export loadings |
BEAT |
pred ~15.4 MMbbl/month vs. cons 15.0 MMbbl/month |
MEDIUM |
| TRGP |
Guide |
Adjusted EBITDA outlook |
LOWER |
guide ~$5.80B midpoint vs. cons $5.88B midpoint (FY2026) |
MEDIUM |
| TRGP |
Guide |
Net growth capital expenditure |
UNCHANGED |
guide ~$4.50B vs. cons $4.50B (FY2026) |
HIGH |
| TRGP |
Guide |
Permian volume-growth outlook |
UNCHANGED |
guide ~11% vs. cons 11% (FY2026) |
MEDIUM |
| TRGP |
Return |
Day-1 residual (stock − beta × S&P 500) |
-2.0% |
— |
MEDIUM |
| TRGP |
Return |
5-day cumulative residual |
-3.5% (FADE) |
A ~$1.54B EBITDA beat versus ~$1.51B consensus is likely attributed disproportionately to temporary LPG-export and marketing/optimization strength, while a ~$5.80B FY2026 midpoint versus ~$5.88B consensus leaves no out-period uplift. The resulting implicit 2H EBITDA math is ~$(1.54B) versus ~$(1.59B) consensus, pulling 2027 estimates lower after the initial headline beat. |
MEDIUM |