- TC Energy (TRP) has released its first quarter operating and financial report for 2021 that includes a $1.9 billion investment in various projects, part of the continued advancement of the company’s $20 billion secured capital program
- Following the formal suspension of the Keystone XL pipeline among other items, the company experienced a net loss attributable to common shares of $1.1 billion or $1.11 per common share
- The company is currently exploring opportunities to electrify and use renewable energy to power its proprietary energy loads
- TC Energy is an energy infrastructure company consisting of pipeline and power generation assets in Canada, the United States, and Mexico
- TC Energy (TRP) is up 0.24 per cent, closing out the day at $61.94 per share
TC Energy (TRP) has released its operating and financial report for Q1 2021.
The results include a $1.9 billion investment in various projects, part of the continued advancement of the company’s $20 billion secured capital program.
Following the formal suspension of the Keystone XL pipeline among other items, the company experienced a net loss attributable to common shares of $1.1 billion or $1.11 per common share, which includes a $2.2 billion after-tax Keystone XL asset impairment charge.
Excluding the asset impairment charges related to Keystone XL, the company reported earnings of $1.1 billion or $1.16 per common share in the first quarter of 2021, compared to $1.1 billion or $1.18 per common share in 2020.
François Poirier, President and CEO of TC Energy, commented on the quarterly results.
“During the first three months of 2021, our diversified portfolio of essential energy infrastructure continued to perform very well,” he remarked. “Robust comparable earnings and cash generation once again highlight the resiliency of our assets and how imperative they are to the North American economy as we deliver the energy and advance projects vital to our way of life in a safe and reliable manner,” added Mr. Poirier.
The company is currently exploring opportunities to electrify and use renewable energy to power its proprietary energy loads, with the goal of a net reduction in emissions across TC Energy’s footprint.
“Given the predictable nature of our cash flow streams,” TC Energy stated in its press release, “the company’s outlook for full-year 2021 comparable earnings remains generally consistent with last year’s record results.”
TC Energy is an energy infrastructure company consisting of pipeline and power generation assets in Canada, the United States, and Mexico.
TC Energy (TRP) is up 0.24 per cent, closing out the day at $61.94 per share.
