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Pipeline company TC Energy raises growth outlook for 2023

The TC Energy logo is shown in a handout. (THE CANADIAN PRESS/HO) The TC Energy logo is shown in a handout. (THE CANADIAN PRESS/HO)
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CALGARY -

TC Energy Corp. is raising its financial guidance for the year.

The company says it now expects its comparable earnings before interest, taxes, depreciation and amortization for 2023 to be up about eight per cent from 2022.

The forecast is up from earlier guidance for comparable EBITDA in 2023 to grow at the upper end of a range of five to seven per cent.

For 2024, TC Energy says comparable EBITDA is expected to grow five to seven per cent.

TC Energy announced plans earlier this year to split into two separate companies by spinning off its crude oil pipelines business.

The new pipeline business will be named South Bow Corp. and be headquartered in Calgary with an office in Houston, Texas.

This report by The Canadian Press was first published Nov. 28, 2023.

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