July 31 (Reuters) - Canadian pipeline operator TC Energy ( TRP )
beat analysts' estimates for second-quarter profit on
Thursday, helped by increased natural gas and power demand.
With energy demand growing across North America, the need
for renewable and lower-emission electricity is also set to
rise. TC Energy ( TRP ) believes new hydro, solar, wind, nuclear and
energy storage capacity will be required to meet growing demand
and support a shift in the energy mix.
The company's total quarterly revenue rose 12% to C$3.74
billion ($2.70 billion), supported by higher adjusted core
earnings from Mexican, Canadian and U.S. natural gas pipelines.
On an adjusted basis, the Calgary-based company earned 82
Canadian cents per share for the three months ended June 30,
compared with analysts' average expectation of 78 Canadian
cents, according to data compiled by LSEG.
($1 = 1.3849 Canadian dollars)