Despite a lift in revenue, TC Energy expects lower earnings this year and is selling assets to improve its balance sheet

  • TC Energy’s quarterly earnings fell despite a lift in revenue
  • The company expects lower earnings this year
  • TC Energy plans to shed assets to improve its balance sheet
  • First-quarter revenue was up 8%
  • Comparable earnings before interest, tax, depreciation, and amortization were 11% higher
  • TC Energy reaffirmed its target for comparable Ebitda in 2024
  • The company is offloading $3 billion in assets
  • TC Energy has announced the sale of various assets

TC Energy reported lower quarterly earnings of 1.2 billion Canadian dollars ($879.8 million), compared to 1.31 billion Canadian dollars in the previous year. Despite an 8% increase in revenue, the company expects lower earnings for the year. TC Energy plans to shed assets and has already announced the sale of various assets, including the Portland Natural Gas Transmission System and Prince Rupert Gas Transmission assets. The company aims to offload $3 billion in assets to improve its balance sheet. TC Energy reaffirmed its target for comparable Ebitda in 2024. The company’s first-quarter revenue was broadly in line with expectations, and comparable earnings before interest, tax, depreciation, and amortization were 11% higher than the previous year.

Factuality Level: 9
Factuality Justification: The article provides a detailed and factual account of TC Energy’s financial performance, including key figures such as revenue, earnings, and asset sales. The information is presented objectively without any sensationalism or bias. The article also includes relevant context about the company’s plans to shed assets and its financial targets for the future.
Noise Level: 3
Noise Justification: The article provides a detailed and focused analysis of TC Energy’s financial performance, including earnings, revenue, and asset shedding plans. It stays on topic and supports its claims with specific data and examples. However, it lacks in-depth exploration of the consequences of TC Energy’s decisions on stakeholders or broader implications for the energy industry.
Financial Relevance: Yes
Financial Markets Impacted: TC Energy
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses TC Energy’s lower earnings and plans to shed assets, which can impact the company’s financial performance and potentially affect the financial markets.
Public Companies: TC Energy (N/A), BlackRock (N/A), Global Infrastructure Partners (N/A)
Private Companies: Nisga’a Nation,Western LNG
Key People:

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