TC Energy Books Record Earnings amid High Natural Gas Demand

TC Energy Corporation reported on Friday record comparable core earnings and earnings per share for 2023, topping analyst estimates, as demand for natural gas and LNG surged. The Canada-based pipeline giant booked US$8 billion C$11.0 billion in earnings before interest, tax, depreciation, and amortization EBITDA for 2023, up by 11% compared to 2022. Comparable earnings per common share rose by 5% annually to US$3.35 C$4.52 in 2023. TC Energy’s deliveries to power generators on its U.S.

“Within our integrated natural gas pipelines business, total NGTL System deliveries in Canada averaged 14.5 Bcf/d and various pipelines in the U.S. achieved record throughput volumes,” chief executive CEO François Poirier said. “The GTN system achieved a delivery record of 3.1 Bcf on November 11, 2023, Tuscarora Gas Transmission System achieved a delivery record of 0.2 Bcf on November 30, 2023, and the Portland Natural Gas Transmission System achieved a delivery record of 0.

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