Tuesday, November 19, 2024

TC Energy forecasts higher 2025 core profit on natgas, electricity demand

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(Reuters) – Canadian pipeline operator TC Energy Corp said on Tuesday it expects its 2025 core profit to be in the range of about C$10.7 billion ($7.63 billion) to C$10.9 billion ($7.78 billion).

For 2024, the company expects core profit to be at the upper end of C$9.9 billion to C$10.1 billion, excluding its Liquid Pipelines segment.

The pipeline operator also announced four new growth projects aligned with increasing demand for natural gas and nuclear power generation.

TC Energy’s annual investor day is scheduled to begin later on Tuesday.

($1 = 1.4016 Canadian dollars)

(Reporting by Seher Dareen in Bengaluru; Editing by Shreya Biswas)

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