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TC Energy beats profit estimates as strong demand offsets Keystone oil spill and Coastal GasLink costs

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Demand for oil and gas helped TC Energy defend its earnings as the company grappled with costs from the Keystone oil spill. Read on

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The company also recorded a $3 billion impairment on its equity investment in Coastal GasLink LP due to cost overruns.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.

“We expect this positive momentum to continue into 2023 despite macroeconomic challenges, with 2023 comparable EBITDA expected to be five per cent to seven per cent higher than 2022,” chief executive officer François Poirier said in a statement. The Calgary-based company reported comparable earnings of $1.11 per share for the three months ended Dec. 31, while analysts on average had expected earnings of $1.10 per share, according to Refinitiv data.Article content

 

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