TC Energy Sanctioning Projects; 1Q Results In Line With Expectations -- Market Talk
Dow Jones
May 01, 2025
1022 ET - With TC Energy's 1Q results in line with expectations and its guidance unchanged, the focus is on the energy company's incremental sanctioning of development projects, Jefferies' Anthony Linton says. He notes the company exited 1Q with a secured project backlog of about C$28 billion versus C$25 billion at the end of the prior quarter, and it now expects its SE Gateway pipeline in Mexico to be in-service at the end of May. Adjusted Ebitda of C$2.7 billion was in line with Jefferies' and the consensus forecast, and TC continues to expect a full-year adjusted Ebitda of C$10.7 billion-C$10.9 billion. Jefferies has a hold call and C$71 target. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 10:22 ET (14:22 GMT)
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