- Pipeline operator TC Energy (TSX:TRP) reported a stronger-than-expected Q4 profit, driven by demand in its Mexican operations and increased deliveries on its Canadian natural gas pipelines
- TC Energy stated it was evaluating the trade negotiations and the potential impact of the proposed tariffs but anticipated minimal effects on its operations
- The company’s total revenue increased by 2 per cent to C$3.58 billion, bolstered by higher adjusted core earnings from its Mexican natural gas pipelines and power and energy solutions segments.
- TC Energy stock last traded at C$67.20
Pipeline operator TC Energy (TSX:TRP) reported a stronger-than-expected Q4 profit, driven by demand in its Mexican operations and increased deliveries on its Canadian natural gas pipelines.
The Calgary-based company announced on Friday that its Southeast Gateway Pipeline in Mexico had achieved mechanical completion and was expected to commence operations by May.
The results come at a time of uncertainty for the energy sector, following U.S. President Donald Trump’s 25 per cent tariffs on Canada and Mexico, which were subsequently delayed by a month. TC Energy stated it was evaluating the trade negotiations and the potential impact of the proposed tariffs but anticipated minimal effects on its operations.
“Our priorities for 2025 are clear,” TC Energy’s CEO, François Poirier stated in a media release on these results. “We will continue to maximize the value of our assets through safety and operational excellence, execute our selective portfolio of growth projects and ensure financial strength and agility. We believe that our renewed focus on natural gas and power, and our portfolio of highly contracted assets gives us a strategic competitive advantage in the industry, enabling us to continue achieving solid growth, low risk and repeatable performance.
In that statement, TC reiterated its positioning to capitalize on the unprecedented demand for natural gas across North America, largely fuelled by the electric generation needs of cryptocurrency mining and data centres. The company’s total revenue increased by 2 per cent to C$3.58 billion, bolstered by higher adjusted core earnings from its Mexican natural gas pipelines and power and energy solutions segments.
Despite the overall positive performance, TC Energy experienced a decline in profit from its U.S. and Canadian pipeline segments, attributed to the sale of the Portland Natural Gas Transmission System and lower earnings from the Coastal GasLink natural gas pipeline. The company posted an adjusted profit of C$1.05 per share, surpassing LSEG analysts’ estimates of C$1.00.
TC Energy Corp. is an energy infrastructure company consisting of pipeline and power generation assets in Canada, the United States and Mexico.
TC Energy stock last traded at C$67.20 and has risen 38.36 per cent sine the year began.
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