TC Energy Q3 profit misses estimates

TC Energy

06/11/2025 11:40

Overview

TC Energy Q3 net income drops to C$0.8 bln from C$1.3 bln yr/yr

Adjusted EPS for Q3 misses analyst expectations

Comparable EBITDA rises to C$2.7 bln from C$2.4 bln yr/yr

Outlook

TC Energy projects 2026 comparable EBITDA of C$11.6 to C$11.8 bln, a 6-8% increase over 2025

Company expects 2028 comparable EBITDA of C$12.6 to C$13.1 bln, with 5-7% annual growth

TC Energy maintains 2025 comparable EBITDA outlook at C$10.8 to C$11.0 bln

Result Drivers

NEW GROWTH PROJECTS - Co sanctioned C$0.7 bln of new growth projects in Q3, totaling over C$5 bln in low-risk projects in past year

STRONG ASSET PERFORMANCE - Driven by robust North American energy fundamentals and strong asset performance, per CEO François Poirier

PROJECT EXECUTION - Successful project execution with C$8 bln of assets placed into service on time and under budget

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Miss
C$0.77
C$0.80 (14 Analysts)
Q3 Net Income
C$813 mln
Q3 DIVIDEND
C$0.85


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 8 "hold" and 2 "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$76.00, about 6.4% above its November 5 closing price of C$71.10

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release: ID:nGNXbSxFdF

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(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.)