financetom
Business
financetom
/
Business
/
TC Energy beats quarterly profit estimates on strength in natural gas pipelines
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
TC Energy beats quarterly profit estimates on strength in natural gas pipelines
Aug 1, 2024 4:16 AM

Aug 1 (Reuters) - Pipeline operator TC Energy ( TRP )

beat second-quarter profit estimates on Thursday, helped by

strength in its natural gas pipelines.

Extremely hot weather prompted consumers to increase their

usage of air conditioners and refrigerators in the reported

quarter, creating demand for natural gas.

Quarterly earnings from its Canadian natural gas pipelines,

came in at C$514 million ($371.79 million), compared to a loss

of C$394 million in the year-ago period. Earnings from its

Mexico pipelines were up 46.2% at C$266 million.

The company reported an adjusted profit of 94 Canadian cents

per share for the quarter ended June 30, compared with analysts'

average estimate of 91 Canadian cents per share, according to

LSEG data.

($1 = 1.3825 Canadian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved