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)