- TC Energy Corp. (TRP) released its Q2 results, mostly aligned with what the company achieved in Q1
- The company recorded net income attributable to common shares of $0.9 billion, or $0.90 per common share, compared to $1.0 billion or $1.00 per common share in 2021
- Comparable earnings of $1.0 billion or $1.00 per common share compared to $1.0 billion or $1.06 per common share in 2021
- Segmented earnings were $1.7 billion compared to $1.6 billion in 2021, and comparable earnings before EBITDA was $2.4 billion compared to $2.2 billion in 2021
- Net cash provided by operations was $0.9 billion compared to 2021 results of $1.7 billion and comparable funds generated from operations was $1.6 billion compared to $1.8 billion in 2021
- TC Energy (TRP) was down 2.07 per cent to $69.06 a share as of 11:50 am ET
TC Energy Corp. (TRP) released its Q2 results, mostly aligned with what the company achieved in Q1.
The company recorded net income attributable to common shares of $0.9 billion, or $0.90 per common share, compared to a net income of $1.0 billion or $1.00 per common share in 2021. Comparable earnings of $1.0 billion or $1.00 per common share compared to $1.0 billion or $1.06 per common share in 2021.
Segmented earnings were $1.7 billion compared to $1.6 billion in 2021, and comparable earnings before interest, taxes, depreciation, and amortization (EBITDA) of $2.4 billion compared to $2.2 billion in 2021.
Net cash provided by operations was $0.9 billion compared to 2021 results of $1.7 billion, and comparable funds generated from operations were $1.6 billion compared to $1.8 billion in 2021.
The company’s 2022 comparable EBITDA is expected to be modestly higher than 2021.
TC Energy’s President and Chief Executive Officer, François Poirier, commented that demand for clean, responsibly sourced natural gas remains high in North America, with energy security also driving incremental growth in the global LNG market.
“I am pleased to report we have reached a significant milestone with the Coastal GasLink Limited Partnership (Coastal GasLink LP), signing revised agreements with LNG Canada that will allow the safe and timely execution of our largest LNG-linked project. The 670-kilometre Coastal GasLink project is approximately 70 per cent complete, with mechanical in-service expected by the end of 2023. Together with LNG Canada, this project will provide the first direct path for Canadian natural gas to reach global LNG markets. By leveraging our competitive strengths, we continue to develop solutions to move, generate and store the energy North America relies on in a secure and increasingly sustainable way.”
TC Energy Corp. (TRP) operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.
TC Energy (TRP) was down 2.07 per cent to $69.06 a share as of 11:50 am ET.
