07:12 AM EDT, 05/03/2024 (MT Newswires) -- TC Energy ( TRP ) on Friday reported a slight increase in first-quarter comparable earnings from the year-ago quarter and beat analysts' consensus estimate.

First-quarter comparable earnings increased to $1.28 billion, or $1.24 per share, from $1.23 billion, or $1.21 per share, in the year-ago quarter. The result surpassed the S&P Capital IQ normalized EPS consensus estimate of $1.15 for the quarter.

Comparable EBITDA on the quarter rose to $3.09 billion from $2.78 billion.

The company reaffirmed its 2024 comparable EBITDA outlook at $11.2 to $11.5 billion. It expects comparable earnings per common share to be lower than 2023 due to the net impact of higher net income attributable to non-controlling interests.

"Our clearly defined 2024 strategic priorities focused on maximizing the value of our assets, project execution and enhancing balance sheet strength remain unchanged as we progress throughout the year," President and CEO Francois Poirier said. "Our business is not exposed to material volumetric or commodity price risks and strong utilization rates demonstrate the continued demand for our services and the long-term criticality of our assets."

TC Energy ( TRP ) at last look gained 0.7% to US$36.41 per share in U.S. pre-market trading on Friday.