TC Energy Reports Strong Q2 EBITDA Growth and Reaffirms Guidance
TC Energy (NYSE:TRP) reported a 12% year-over-year increase in second-quarter comparable EBITDA, driven by higher pipeline utilization, new projects coming online, and strong performance at Bruce Power. The company expects to reach the upper end of its CAD 11.6 billion–CAD 11.8 billion guidance range for full-year 2026 comparable EBITDA. The firm has placed approximately CAD 2 billion in assets into service during the first half and plans to add another CAD 3.5 billion by year-end, with a late-stage project pipeline now valued at CAD 7 billion. Management also highlighted rising North American gas demand, forecasting a 40% increase through 2035 due to power generation and data center growth. TC Energy reaffirmed its leverage target of 4.75 times or better and emphasized EBITDA growth and high-return projects before Bruce Power's refurbishment program generates CAD 2 billion–CAD 3 billion in annual capital after 2031–2032.
Tickers: $TRP
Topics: ebitda_growth energy infrastructure