Canada's TC Energy Q1 adjusted EPS slightly beats on higher LNG deliveries

TC Energy

01/05/2026 11:40

Overview

Canada energy infrastructure firm's Q1 adjusted EPS beat analyst expectations

Comparable EBITDA rose, as did segmented earnings

Company approved US$1.5 bln Columbia Gas expansion project

Outlook

TC Energy expects 2026 comparable EBITDA of C$11.6 bln to C$11.8 bln

Company anticipates 2026 capital expenditures of C$6.0 bln to C$6.5 bln

TC Energy sees 2026 comparable earnings per share higher than 2025

Result Drivers

STRONG CUSTOMER DEMAND - Co said robust customer demand, including oversubscribed open seasons for pipeline expansions, reinforced its project backlog and visibility to long-term growth

HIGHER LNG DELIVERIES - Deliveries to U.S. LNG facilities rose 12% yr/yr, supporting increased pipeline flows and system utilization

Company press release: ID:nGNX8LFlPF

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
C$0.99
C$0.98 (11 Analysts)
Q1 Net Income
C$899 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy"

Wall Street's median 12-month price target for TC Energy Corp is C$89.00, about 2.3% below its April 30 closing price of C$91.08

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 21 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)