Targa Resources (TRGP) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. The drop marks a continuation of the downward trend seen over recent periods.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. The drop marks a continuation of the downward trend seen over recent periods.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.8B
Revenue reported for this quarter.
Quarter-over-quarter
-7.0%
Change from the immediately preceding quarter.
Year-over-year
-22.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$18.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $5.8B | +81.2% |
| Sep 30, 2022 | $5B | +20.0% |
| Dec 31, 2022 | $4.1B | +76.9% |
| Mar 31, 2023 | $3.8B | -22.2% |
Revenue performance
The reported revenue was lower than the prior quarter, reflecting a sequential decrease. It also fell short of the level achieved in the same quarter a year ago.
Quarterly comparison
Compared with the immediately preceding quarter, revenue contracted. Versus the same quarter one year earlier, the decline was even more pronounced.
What to watch
Revenue has declined for three consecutive quarters, warranting attention to the sustainability of the downward trend.