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Targa Resources10-Q: Customer concentration

A single customer represented 11% of consolidated revenues in Q1 2026.

What happened

The company's reliance on a single, unnamed customer for over a tenth of its revenue presents a significant business risk. This concentration could make the company more receptive to solutions that help diversify its customer base, improve customer retention, or manage key account relationships.

Source

SEC EDGARMay 7, 2026

Quarterly report (Form 10-Q)

Targa Resources 10-Q

Filing excerpt

During the three months ended March 31, 2026, revenues from one customer within our Logistics and Transportation segment represented approximately 11% of our consolidated revenues.

sec.gov/Archives/edgar/data/1389170/000119312526211698/trgp-20260331.htmRead the full source

Other signals in this filing (8)

Extracted by Autobound

From the Signal API record
Signal
10-Q: Customer concentration

What this signalsFilings often name leadership changes, deals and spending plans.

Fiscal year end
03/31
Filed
May 7, 2026

More 10-Q signals at other companies

The full record

From the Signal API record

Numbers

Percent
11% (Portion of consolidated revenues from a single customer)

Details

CIK
1389170
Accession number
0001193125-26-211698
Timeframe
Current quarter
Filing year
2026
Fiscal year
0
Why it matters
Diversification strategy
Signal category
Market

Extraction

Confidence
High
Relevance
70%
Sentiment
Neutral
Detected
May 12, 2026
signal_type
sec-10q
signal_subtype
customerConcentration

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The API returns more than this page shows

This page shows a preview. The full sec-10q record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/fcb1371c-ae16-4227-922d-8aadee6a4512 returns this record as JSON. POST /v1/companies/enrich returns every signal for targaresources.com.

{
  "signal_id": "fcb1371c-ae16-4227-922d-8aadee6a4512",
  "signal_type": "sec-10q",
  "signal_subtype": "customerConcentration",
  "detected_at": "2026-05-12T09:24:55.138+00:00",
  "company": {
    "name": "Targa Resources",
    "domain": "targaresources.com"
  },
  "data": {
    "detail": "The company's reliance on a single, unnamed customer for over a tenth of its revenue presents a significant business risk. This concentration could make the company more receptive to solutions that help diversify its customer base, improve customer retention, or manage key account relationships.",
    "metrics": {
      "pct": 0.11,
      "timeframe": "current_quarter",
      "pct_context": "Portion of consolidated revenues from a single customer"
    },
    "summary": "A single customer represented 11% of consolidated revenues in Q1 2026.",
    "excerpts": "During the three months ended March 31, 2026, revenues from one customer within our Logistics and Transportation segment represented approximately 11% of our consolidated revenues.",
    "relevance": 0.7,
    "sentiment": "neutral",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1389170/000119312526211698/trgp-20260331.htm",
    "filing_date": "2026-05-07",
    "filing_year": 2026,
    "fiscal_year": 0,
    "fiscal_year_end": "03/31",
    "sales_relevance": "Diversification strategy",
    "signal_category": "market"
  }
}

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