$TRP · TC ENERGY CORP
TC Energy reported Q3 2026 results with comparable EPS of $0.94 (up from $0.77) and net income of $1.0 billion. Comparable EBITDA rose 13% to $3.0 billion. The company raised 2026 EBITDA guidance to $11.8–$12.0 billion and extended a five-year outlook targeting 5–7% CAGR through 2031, backed by ~$6 billion of sanctioned projects and ~$3 billion of newly announced growth projects.
- Comparable EPS rose to $0.94 from $0.77 in Q3 2025.
- Comparable EBITDA rose 13% to $3.0 billion.
- 2026 EBITDA guidance raised to $11.8–$12.0 billion.
- Quarterly dividend raised to $0.8775 per share from $0.85.
- ~$3 billion of new growth projects announced, including Coastal GasLink Phase 2 at $4.9 billion.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
A guidance raise plus a new five-year growth framework signals durable, low-risk earnings visibility for a major North American energy infrastructure operator.
The guidance raise is driven by North American natural gas demand growth, with LNG exports and gas-fired power (including data centers) expected to add ~51 Bcf/d by 2035.
Coastal GasLink Phase 2 carries construction and schedule risk, though mitigated by LNG Canada leading execution and defined capital commitments.