Latest news with #TCEnergyCorp
Yahoo
02-05-2025
- Business
- Yahoo
TC Energy Corp (TRP) Q1 2025 Earnings Call Highlights: Strong Start with Strategic Project ...
Net Capital Expenditures: Expected to be between $5.5 billion and $6 billion for 2025. Assets into Service: $8.5 billion of assets expected to be placed into service in 2025. EBITDA Outlook 2025: Reaffirmed at $10.7 billion to $10.9 billion, representing a 7% to 9% increase over 2024. EBITDA Outlook 2027: Targeted at $11.7 billion to $11.9 billion, implying a 5% to 7% three-year growth rate. Bruce Power Availability: Achieved 87% availability in Q1, with full-year 2025 expected in the low 90% range. Alberta Cogen Fleet Availability: Delivered 98% availability in Q1. Average Realized Price: $106 per megawatt hour, up $12 from Q1 2024. Dividend Growth: 25 consecutive years of dividend growth. Warning! GuruFocus has detected 11 Warning Signs with TRP. High Yield Dividend Stocks in Gurus' Portfolio This Powerful Chart Made Peter Lynch 29% A Year For 13 Years How to calculate the intrinsic value of a stock? Release Date: May 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TC Energy Corp (NYSE:TRP) reported a strong start to 2025 with safety incident rates at five-year lows. The company completed the Southeast Gateway project 13% below budget, enhancing long-term cash flow. TC Energy Corp (NYSE:TRP) is on track to place $8.5 billion of assets into service in 2025, with projects tracking approximately 15% below budget. The Northwoods project, a $900 million expansion of the ANR pipeline system, is backed by a 20-year take-or-pay contract. The Bruce Power Major Component Replacement program is expected to add significant long-term value by extending the life of Unit 5 by over 35 years. Approval from the National Energy Commission (CNE) is still pending for the Southeast Gateway project, delaying its in-service date. The power and energy solutions business experienced lower contributions from Bruce due to planned outages and ongoing refurbishments. Natural gas storage contributions were lower compared to the exceptional performance in early 2024. The company remains above its 4.75 times debt-to-EBITDA target for 2025, indicating elevated leverage. There is uncertainty regarding the regulatory framework in Canada, which could impact future infrastructure development and LNG projects. Q: Given the strong origination pipeline for US gas projects, how is TC Energy considering CapEx and potentially going to the high end of the $6 billion to $7 billion annual range? A: Francois Poirier, President and CEO, emphasized the strategic advantage of TC Energy's footprint and the focus on human capital to ensure project execution. He stated that the company is committed to maintaining a debt-to-EBITDA ratio of 4.75 times and does not expect to exceed the $6 billion annual CapEx in 2025 or 2026. Q: Can you clarify the payment mechanics for the Southeast Gateway project once operational, and is CNE approval a gating item for service to start? A: Tina Faraca, EVP & COO - Natural Gas Pipelines, explained that once CNE approval is received, invoicing will follow a normal 30-day cycle. Francois Poirier added that CNE approval is necessary for regulated rates to commence service, but a total adjustment mechanism preserves the NPV of payments, ensuring no impact on the 2025 outlook. Q: What is driving the increased cadence of project announcements through 2025, and are these projects mainly data center related? A: Tina Faraca noted that power generation, including coal-to-gas conversions and data center demand, is a bright spot for growth. Francois Poirier added that the guidance on project cadence is based on specific projects in late stages of negotiation, not just macro trends. Q: How does TC Energy view the potential for partnerships in new projects to manage capital needs and leverage levels? A: Sean O'Donnell, EVP & CFO, indicated a shift towards partnerships rather than asset sales, especially for larger projects towards the end of the decade. Francois Poirier highlighted the importance of involving indigenous communities in Canada for new projects. Q: How does the volatility from trade policy and Canadian election results impact TC Energy's risk-adjusted returns and growth plans? A: Francois Poirier stated that TC Energy's projects are insulated from volumetric and commodity price risks. The company focuses on delivering projects on time and on budget, with the US offering the best risk-adjusted returns. He emphasized the need for policy stability and collaboration to attract capital for Canadian LNG projects. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Calgary Herald
01-05-2025
- Business
- Calgary Herald
TC Energy reports $978M first-quarter profit as revenues increase
Article content CALGARY – TC Energy Corp. says its profits edged lower in its latest quarter as revenues increased compared with a year ago. Article content The pipeline company reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. Article content It said its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. Article content Article content 'Throughout the first three months of 2025, TC Energy showcased the strength of our business and our position as an industry leading natural gas and power and energy solutions company,' said president and CEO Francois Poirier in a press release. Article content He said that was despite the fact 'evolving macroeconomic conditions continue to contribute to market uncertainty.' Article content 'We remain focused on maximizing the value of our assets through safety and operational excellence, executing our selective portfolio of growth projects and ensuring financial strength and agility as we deliver solid growth, low risk and repeatable performance for our shareholders.' Article content TC Energy also announced it has approved two new projects that it said represent 'strategic investments in North America's energy future.' Article content Article content One of those, dubbed the Northwoods project, will expand the company's ANR pipeline system in the U.S. which transports natural gas from Texas, Oklahoma and Louisiana to cities and towns in Wisconsin, Michigan, Illinois and Ohio. Article content TC Energy said it anticipates the expansion being complete by late 2029 with an estimated cost of approximately US$900 million. Article content The company said it has also sanctioned a major component replacement on Unit 5 at its Bruce Power nuclear plant after receiving approval from the Ontario Independent Electricity System Operator last month.
Hamilton Spectator
01-05-2025
- Business
- Hamilton Spectator
TC Energy reports $978M first-quarter profit as revenues increase
CALGARY - TC Energy Corp. says its profits edged lower in its latest quarter as revenues increased compared with a year ago. The pipeline company reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. It says its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. The company says its comparable earnings totalled 95 cents per share in its latest quarter, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024. TC Energy president and CEO François Poirier says the company's results demonstrate the 'overall resiliency of our business,' even as 'evolving macroeconomic conditions continue to contribute to market uncertainty.' This report by The Canadian Press was first published May 1, 2025. Companies in this story: (TSX:TRP)
Winnipeg Free Press
01-05-2025
- Business
- Winnipeg Free Press
TC Energy reports $978M first-quarter profit as revenues increase
CALGARY – TC Energy Corp. says its profits edged lower in its latest quarter as revenues increased compared with a year ago. The pipeline company reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. It says its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. The company says its comparable earnings totalled 95 cents per share in its latest quarter, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024. TC Energy president and CEO François Poirier says the company's results demonstrate the 'overall resiliency of our business,' even as 'evolving macroeconomic conditions continue to contribute to market uncertainty.' During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. This report by The Canadian Press was first published May 1, 2025. Companies in this story: (TSX:TRP)
Bloomberg
10-04-2025
- Business
- Bloomberg
TC Energy Rules Out Mainline Sale as Canada Seeks Oil Security
TC Energy Corp. Chief Executive Francois Poirier ruled out selling the Canadian Mainline natural gas pipeline — which stretches across most of the country — as the trade war with the US pushes energy security up Canadian politicians' priority list. President Donald Trump's tariffs and repeated taunts about annexing Canada have highlighted the country's vulnerability in relying on a crude pipeline that crosses through the US to supply oil for the eastern provinces' refineries. Both of the main political parties seeking power in this month's election have discussed the need to reduce reliance on the pipeline that goes through the Midwest.
