TC Energy reports third quarter profit and revenue up from year ago

TC Energy Corp. reported its third-quarter profit rose compared with a year ago as its revenue gained more than 15 per cent.

The pipeline operator says it earned net income attributable to common shares of $841 million or 84 cents per share for the quarter ended Sept. 30, up from $779 million or 80 cents per share a year earlier.

Revenue for the quarter totalled nearly $3.80 billion, up from $3.24 billion in the third quarter of 2021.

TC Energy says its comparable earnings for its latest quarter amounted to $1.07 per share, up from a comparable profit of 99 cents per share a year ago.

Analysts on average had expected a profit of 99 cents per share and $3.54 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv.

TC Energy chief executive Francois Poirier says demand for the company's services across its North American portfolio remains high and it continues to see strong utilization, availability, and overall asset performance.

© 2022 The Canadian Press

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