TC Energy Corporation

Latest Results (17.12.2024):

Income and Earnings

In the third quarter of 2024, TC Energy Corporation reported a net income attributable to common shares of $1.5 billion, or $1.40 per common share. This marks a significant improvement compared to a net loss of $0.2 billion, or a net loss of $0.19 per common share, in the same quarter of 2023. The company's comparable earnings for the quarter were $1.1 billion, or $1.03 per common share, up from $1.0 billion, or $1.00 per common share, in the third quarter of 2023.

Revenue and EBITDA

TC Energy Corporation's comparable EBITDA for the third quarter of 2024 was $2.8 billion, an increase from $2.6 billion in the same period of 2023. The segmented earnings for the quarter were $2.6 billion, a substantial rise from $0.6 billion in the third quarter of 2023. The company expects its 2024 comparable EBITDA to be at the upper end of its $11.2 to $11.5 billion range.

Capital Expenditures

For 2024, TC Energy Corporation has revised its overall net capital expenditure outlook to be approximately eight percent lower, ranging from $7.4 to $7.7 billion. This adjustment reflects strong project execution and optimization efforts. The Southeast Gateway pipeline project in Mexico is progressing well, with capital expenditures now estimated between US$3.9 to US$4.1 billion, down from the original estimate of US$4.5 billion.

Debt Reduction

In October 2024, TC Energy Corporation successfully reduced its outstanding long-term debt by approximately $7.6 billion. This was achieved through proceeds from South Bow Corporation debt issuance and other sources, enhancing the company's financial strength and flexibility.

Dividends and Outlook

TC Energy Corporation declared a quarterly dividend of $0.8225 per common share for the quarter ending December 31, 2024. The company remains focused on safety, operational excellence, and project execution, expecting to deliver solid growth and low-risk, repeatable performance well into the future. The forecast for North America's natural gas demand is expected to increase significantly, driven by LNG and power generation demand growth.