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
Humboldt Broncos crash victims and families react to decision to deport truck driver
The family of one of the victims of the Humboldt Broncos bus crash in 2018 says they are 'thankful' for a decision by a Calgary immigration board to deport the driver of the truck involved.
A woman took her dog to a shelter to be euthanized. A year later, the dog is up for adoption again
Exhausted and short on options after consulting two veterinary clinics, Kristie Pereira made the gut-wrenching decision last year to take her desperately ill puppy to a Maryland shelter to be euthanized.
How to keep insects out of your house, according to an entomologist and other experts
Now that temperatures have warmed up even more this spring, you may be anxious at the thought of bugs invading your home or you may already be battling the pests. Here are expert tips on how to keep them away.
'God forgives but we don’t': Loud outburst from stabbing victim’s family during sentencing hearing
An emotional outburst in a London, Ont. courtroom Friday disrupted the sentencing hearing of a woman who pleaded guilty for her part in the death of a 29-year-old Mohammed Abdallah.
Community mourns victims of fatal boat crash near Kingston, Ont.
The three people killed in last weekend's tragic collision between a speedboat and a fishing boat north of Kingston are being remembered Friday.
Ford thanks Ottawa as minister cites 'deep concerns' over Toronto's decriminalization
Ontario Premier Doug Ford is thanking the federal government for rejecting Toronto's long-stalled pitch to decriminalize the possession of illegal drugs.
After toddler's near drowning in backyard pool, Quebec mom has warning for parents
A Quebec mother who saved her child from the bottom of a backyard pool last weekend has a message for other families.
Five things to know about the NHL playoffs
The Florida Panthers got close but fell short of going up 2-0 in their series on Friday, something the Edmonton Oilers look to do Saturday night.
UN court order demanding Israel to halt Gaza offensive further isolates U.S. position
A ruling by the top United Nations court ordering Israel to halt its military offensive in the southern Gaza city of Rafah has deepened its disconnect with the United States over an operation that faces mounting international condemnation but that American officials describe, at least for now, as limited and targeted.