Pipeline operator TC Energy reports $1.20B Q1 profit, down from $1.31B a year ago
TC Energy Corp. reported a first-quarter profit of $1.20 billion, down from $1.31 billion in the same quarter last year, as its revenue rose.
The pipeline operator says the profit amounted to $1.16 per share for the quarter ended March 31, down from $1.29 per share a year earlier.
Revenue for the quarter totalled $4.24 billion, up from $3.93 billion in the first quarter of 2023.
On a comparable basis, TC Energy says it earned $1.24 per share in its latest quarter, up from $1.21 per share in the same quarter last year.
During the quarter, TC Energy announced a deal to sell its Portland Natural Gas Transmission System to BlackRock through a fund managed by its diversified infrastructure business, and investment funds managed by Morgan Stanley Infrastructure Partners.
It also announced an agreement in March to sell its Prince Rupert Gas Transmission project to the Nisga'a Nation - whose lands are located on the northwest coast of B.C. near the city of Terrace - and its partner, Texas-based Western LNG.
This report by The Canadian Press was first published May 3, 2024.
CTVNews.ca Top Stories
Robert Pickton to remain in medically induced coma until later this week: police
Serial killer Robert Pickton will remain in a medically induced coma for at least the next few days following an attack in a Quebec prison Sunday, according to police spokesperson Hugues Beaulieu.
Charlie Colin, founding member of the pop-rock band Train, dies at 58
Charlie Colin, bassist and founding member of the American pop-rock band Train, best known for their early-aughts hits like 'Drops of Jupiter' and 'Meet Virginia,' has died. He was 58.
'Five feet nothing': Pickton's safety likely behind Quebec transfer, says ex-prison judge
When serial killer Robert Pickton was transferred from British Columbia's Kent Institution to a maximum security prison in Quebec about six years ago, correctional authorities gave no public explanation or confirmation at the time, citing privacy.
'I feel betrayed': Ottawa-area customers out thousands of dollars warn of bad faith contractor
A group of people from eastern Ontario and western Quebec is issuing a warning about Dennis Walker and his company Vue Windows.
Fancy pigeon outfitted in custom diaper has free rein in B.C. family home
When Chrissy Chin volunteered to take in a fancy pigeon abandoned on a park bench, she never imagined she would one day be ordering custom-made diapers for the bird – who lives in her house and has become a member of the family.
'We'll need all hands on deck': Details emerge after deadly boat crash near Kingston
Police say they have wrapped up their on-scene investigation into a deadly boat crash in eastern Ontario as details of the incident begin to emerge.
WestJet planning new fare category for travellers willing to forgo carry-on bag
WestJet Airlines plans to launch a new cheaper fare category that would be available to travellers willing to fly without a carry-on bag.
5 dead and at least 35 hurt in Iowa tornado: officials
Five people died and at least 35 were hurt as powerful tornadoes ripped through Iowa Tuesday, with one carving a path of destruction through the town of Greenfield, officials said.
Woman found dead in Lake Ontario in 2017 matches identity of missing person in Switzerland
Genetic genealogy has helped Toronto police identify a woman who was found dead in Lake Ontario in 2017.