-- 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.