FINWIRES · TerminalLIVE
FINWIRES

TC Energy's Q1 Comparable Earnings Climb YoY, Approves Columbia Gas Expansion Project

By

TC Energy (TRP.TO)'s comparable earnings rose year over year in the first quarter, the company said in a Friday report.

Comparable earnings were C$1.03 billion, or $0.99 per share, up from $983 million, or $0.95 per share. The result beat the non-GAAP earnings per share consensus estimate of $0.97, as compiled by FactSet.

Comparable EBITDA was $3.09 billion, an increase from $2.71 billion.

The company reaffirmed its 2026 comparable EBITDA guidance of $11.6 billion to $11.8 billion. Comparable EBITDA and comparable EPS in 2026 are expected to be higher than in 2025, consistent with TC Energy's 2025 annual report.

Capital expenditures are expected to be $6.0 billion to $6.5 billion prior to adjustments for non-controlling interests, or $5.5 billion to $6.0 billion of net capital expenditures.

Additionally, TC Energy has approved the Appalachia Supply Project, an expansion of its Columbia Gas system designed to provide up to 0.8 billion cubic feet per day of capacity to facilitate expanded new natural gas-fired power generation.

The project is expected to begin service in 2030 and is estimated to cost about US$1.5 billion.

TC Energy's board declared a quarterly dividend of $0.8775 per common share for the quarter ending June 30, or $3.51 on an annualized basis. The dividend is payable on July 31 to shareholders of record at the close of business on June 30.

Related Articles

Mining & Metals

Earnings Flash (BDGI.TO) Badger Infrastructure Solutions Posts Q1 Adjusted EPS US$0.22 Per Share Basic and Diluted

$BDGI.TO
Mining & Metals

Earnings Flash (BDGI.TO) Badger Infrastructure Solutions Ltd. Reports Q1 Revenue US$203.2M, Up 18%; 13% EBITDA Growth

$BDGI.TO
Mining & Metals

Sun Life Financial Reaches Settlement in Principle to Resolve MetLife Class Action; AM Best Affirms Credit Ratings

Sun Life Financial (SLF.TO) Thursday after trade said it has reached a settlement in principle to resolve a class action relating to individual life insurance policies sold and issued by MetLife in the 1980s and 1990s, which Sun Life inherited through acquisitions.This matter does not involve any policies or products sold by Sun Life, the company said.If approved, Sun Life would provide up to $213.5 million settlement value to eligible policyholders, which is expected to result in a charge to first quarter 2026 reported net income of approximately $145 million.The proceedings relate to the interpretation of policy language in the policies, which are subject to an indemnity from MetLife. Sun Life will seek full recourse from MetLife pursuant to the indemnity, if the settlement is approved, it confirmed.Separately, AM Best affirmed the financial strength rating (FSR) of A+ (Superior) and the long-term issuer credit ratings (Long-Term ICR) of "aa" (Superior) of Sun Life Assurance Company of Canada and Sun Life and Health Insurance Company (U.S.), core insurance subsidiaries of Sun Life Financial. AM Best also affirmed the Long-Term ICR of "a" (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of SLF. The outlook of these ratings is stable.The ratings reflect Sun Life Group's balance sheet strength, which AM Best assesses as strongest, strong operating performance, favorable business profile and very strong enterprise risk management.Sun Life Financial shares are unchanged at US$72.08 in U.S. after-hours trade. It closed up $1.30, to $97.87 on the Toronto Stock Exchange.

$SLF$SLF.TO