TC Energy Q3 Earnings Top Estimates, Appoints Board Chair, Revises Guidance & More
Portfolio Pulse from Lekha Gupta
TC Energy Corp (NYSE:TRP) reported Q3 2023 earnings of 74 cents per share, beating the consensus of 71 cents, and sales of $2.94 billion, exceeding the estimate of $2.75 billion. The company's comparable EBITDA rose 7% Y/Y to C$2.6 billion. The company also announced the appointment of John E. Lowe as board chairperson effective Jan. 1, 2024, and the completion of the sale of 40% of non-controlling equity interest in the Columbia Gas and Columbia Gulf systems for cash proceeds of C$5.3 billion ($3.9 billion).
November 08, 2023 | 4:58 pm
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POSITIVE IMPACT
TC Energy's Q3 earnings beat estimates and the company announced a leadership transition and the completion of an asset sale. This could potentially boost investor confidence.
TC Energy's better-than-expected Q3 earnings, leadership transition, and completion of an asset sale are all positive developments that could potentially boost the company's stock price in the short term. The company's outlook for FY23 also appears positive, which could further boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100