Energy
Targa Resources Corp. delivered robust Q2 FY2026 results led by new asset start-ups and a shift to fee-based income, driving a 38% jump in adjusted EBITDA and positive free cash flow.
Key risk: High Leverage and Interest Rate Risk
Total long-term debt increased to $19.6 billion as of June 30, 2026, up 16.2% from prior year, and interest expense rose 8% YoY to $236.6 million for Q2, potentially straining cash flows if rates rise further.
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