Financial Data and Key Metrics Changes - TC Energy reported a 6% increase in comparable EBITDA from continuing operations in 2024 compared to 2023, reaching over $10 billion [8][30] - The company successfully reduced net capital expenditures by 10% and identified an additional $1.3 billion in capital reductions to be realized in 2026 and 2027 [9] - Comparable earnings for the fourth quarter of 2024 were $1.1 billion, which was 8% lower than the fourth quarter of 2023 [27] Business Line Data and Key Metrics Changes - The Power and Energy Solutions business unit saw a 28% increase in quarterly EBITDA growth, driven by Bruce Power's 99% availability [25] - Canada Gas experienced a significant variance due to a $200 million incentive payment to Coastal GasLink in the fourth quarter of 2023 that was not repeated in 2024 [26] - The Mexico business posted gains primarily due to the weakening of the peso, as revenues are paid in US dollars [27] Market Data and Key Metrics Changes - The Ontario IESO projects a 69,000 megawatt shortfall in total installed capacity by 2050, driven by industrial expansion and population growth [16] - The company anticipates a threefold increase in LNG exports and strong growth in power generation due to coal retirements and data center demand [13] Company Strategy and Development Direction - TC Energy aims to maximize the value of its assets through safety and operational excellence, executing selective growth projects, and ensuring financial strength [40] - The company is focusing on filling its backlog of development projects, with a target of approximately $8 billion in capital between 2026 and 2030 [18] - The partnership with CFE on Southeast Gateway is seen as a critical component of achieving the goals outlined in Mexico's Plan 2030 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the alignment with the Mexican government's priorities and the role of natural gas deliveries [12] - The company remains focused on maintaining a debt to EBITDA ratio of 4.75 times while pursuing organic deleveraging efforts [36] - Management highlighted the importance of executing on time and on budget to improve credit ratings and maintain investor confidence [78] Other Important Information - The Board of Directors declared a first quarter 2025 dividend of $0.85 per common share, marking the 25th consecutive year of dividend growth [37] - Recent leadership changes were announced, with Tina Faraca appointed as Executive Vice President and Chief Operating Officer of Natural Gas Pipelines, and Greg Grant as Executive Vice President of Power and Energy Solutions [42][44] Q&A Session Summary Question: Update on Southeast Gateway in-service date and commercial contracts - Management confirmed the May 1 in-service date is consistent with previous guidance and discussed the status of relevant plants and potential gas supply [49][50] Question: Interest in developing integrated gas to power projects - Management indicated openness to bundled solutions but emphasized a focus on low-risk, complementary projects rather than growing an independent power generation company [56][58] Question: Next steps for Bruce C nuclear project - Management stated that while early in development, they are bullish on nuclear's role in meeting Ontario's energy demand and will not bear significant cost and schedule risk [70][72] Question: Update on leverage and balance sheet outlook - Management highlighted the importance of executing on the capital plan and maintaining a focus on organic deleveraging to improve credit ratings [78][79] Question: Update on Canadian mainline capacity and capital allocation - Management noted that spare capacity has changed due to strong demand and reiterated commitment to the $6 billion to $7 billion capital target [86][89] Question: Update on Columbia rate case - Management confirmed that rates for the Columbia gas system will go into effect in April 2025 [137]

Core Insights - TC Energy reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.68 per share, but down from $0.99 per share a year ago, indicating an earnings surprise of 10.29% [1] - The company achieved revenues of $2.56 billion for the quarter, surpassing the Zacks Consensus Estimate by 5.46%, although this is a decrease from $3.11 billion in the same quarter last year [2] - TC Energy has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance relative to expectations [2] Earnings Outlook - The future performance of TC Energy's stock will largely depend on management's commentary during the earnings call and the sustainability of the stock's price movement based on recent earnings and future expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.71, with expected revenues of $2.46 billion, while the estimate for the current fiscal year is $2.64 on revenues of $10.19 billion [7] Industry Context - The Alternative Energy - Other industry, to which TC Energy belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

T C E N E R G Y 2 0 2 3 I N V E S T O R D A Y T C E N E R G Y F O U R T H Q U A R T E R 2 0 2 4 C O N F E R E N C E C A L L Fourth quarter 2024 conference call February 14, 2025 Call participants François Poirier – President and Chief Executive Officer Sean O'Donnell – Executive Vice-President and Chief Financial Officer Stanley G. Chapman, III – Executive Vice-President Tina Faraca – Executive Vice-President and Chief Operating Officer, Natural Gas Pipelines Gavin Wylie – Vice-President, Investor Relations ...

CALGARY, Alberta, Feb. 14, 2025 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation ((TSX, NYSE:TRP) (TC Energy or the Company) has today filed with Canadian securities authorities: Audited Consolidated Financial Statements for the year ended Dec. 31, 2024 with related Management's Discussion and Analysis (Annual Report); andThe Company's Annual Information Form for the year ended Dec. 31, 2024. In addition, TC Energy filed its Form 40-F for the year ended Dec. 31, 2024 with the United States Securitie ...

TC Energy reports solid fourth quarter 2024 operating and financial results Southeast Gateway pipeline project achieves mechanical completion Increases common share dividend for the twenty-fifth consecutive year EXHIBIT 99.1 Quarterly Report to Shareholders CALGARY, Alberta – February 14, 2025 – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter results today. François Poirier, TC Energy's President and Chief Executive Officer commented, "Our strategic priorities t ...

Southeast Gateway pipeline project achieves mechanical completionIncreases common share dividend for the twenty-fifth consecutive year CALGARY, Alberta, Feb. 14, 2025 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “Our strategic priorities that emphasize safety, operational excellence and project execution continue to deliver solid growth, low risk ...

TC Energy Corporation (TRP) is set to report fourth-quarter earnings on Feb. 14. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share and the same for revenues is pinned at $2.43 billion.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Let us delve into the factors that might have influenced TRP’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter. Highlights of TRP’s Q3 Earnin ...

Wall Street expects a year-over-year decline in earnings on lower revenues when TC Energy (TRP) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 14, 2025, might help the stock move higher if these key numbers are better than expe ...

CALGARY, Alberta, Jan. 24, 2025 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) will hold a teleconference and webcast on Friday, Feb. 14, 2025, to discuss its fourth quarter financial results. François Poirier, TC Energy President and Chief Executive Officer, Sean O’Donnell, Executive Vice-President and Chief Financial Officer, and other members of the executive leadership team will discuss the financial results and Company developments at 6:30 a.m. MST ...

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