TC Energy beats quarterly profit estimates on strong North American operations

Adjusted core profit from TC Energy's U.S. natural gas pipelines, the company's largest segment, rose to C$1.22 billion in the second quarter from C$1.09 billion a year ago.

The Calgary-based company reported adjusted core earnings of C$961 million from its Canadian natural gas pipelines for the three months ended June 30, up from C$923 million a year ago.

Quarterly adjusted core profit from its Mexican natural gas pipelines business rose to C$409 million, compared with C$319 million a year ago.

Canadian pipeline operator TC Energy beat analysts' estimates for second-quarter profit on Thursday, helped by strength in its North American operations.

Pipeline operators across North America are seeing support from growing natural gas consumption, including demand from power generation and industrial users, reinforcing the appeal of energy infrastructure assets.

TC Energy earned 94 Canadian cents per share on an adjusted basis in the second quarter, compared with analysts' average expectation of 83 Canadian cents ($0.5908), according to data compiled by LSEG.

($1 = 1.4049 Canadian dollars)