Canada's TC Energy raises 2026 EBITDA outlook after strong Q3 earnings
TRP•TC Energy raised its 2026 comparable EBITDA outlook to C$11.8 billion-C$12.0 billion after third-quarter comparable EPS rose to C$0.94 from C$0.77 a year earlier. The company also announced about C$3 billion in new growth projects.
1. Higher outlook
TC Energy raised its 2026 comparable EBITDA outlook to C$11.8 billion-C$12.0 billion. It expects 2026 comparable EPS to be higher than 2025 and targets five-year comparable EBITDA compound annual growth of 5%-7% through 2031.
2. Quarterly results
Third-quarter comparable EPS increased to C$0.94 from C$0.77 a year earlier. The report lists Q3 EPS of C$0.98, net income of C$1.03 billion and a dividend of C$0.8775.
3. Drivers and projects
The company said higher asset availability, constructive settlements in U.S. gas systems and incentive earnings in Canada supported results. Projects placed in service ahead of schedule and under budget, and increased natural gas pipeline volumes in Canada, the U.S. and Mexico, also contributed. TC Energy announced about C$3 billion in new growth projects.
