TC Energy's Q1 earnings and revenues fall short of expectations, but company is focusing on growth

From Nasdaq: 2025-05-05 06:32:00

TC Energy Corporation (TRP) reported lower-than-expected first-quarter adjusted earnings of 66 cents per share, down from 92 cents a year ago. Revenues of $2.5 billion also missed estimates by $18 million, decreasing by 19.8% year over year. The company’s board declared a quarterly dividend of 85 Canadian cents per share for shareholders. Comparable EBITDA was C$2.7 billion, up 1% from last year’s figures. TRP’s guidance for 2025 includes bringing $8.5 billion in projects online, focusing on high-return projects while prioritizing growth and lowering leverage over time. The company plans to approve projects within a C$6 billion annual net capital expenditure limit and extend its project backlog through 2030. The Southeast Gateway pipeline is ready for service, with all requirements met for in-service, while the Northwoods project has been approved to serve natural gas-fired electric generation demand in the U.S. Midwest. The Unit 5 MCR project is set to commence in the fourth quarter of 2026. TRP’s first-quarter results are detailed alongside key reports from Liberty Energy, Halliburton, and Baker Hughes. Liberty Energy reported adjusted net income of 4 cents per share, Halliburton posted 60 cents per share, and Baker Hughes reported 51 cents per share. These companies also shared their cash, debt, and capitalization details in their reports.



Read more at Nasdaq: TC Energy’s Q1 Earnings Miss Estimates, Revenues Decline Y/Y