TC Energy (TRP) Surpasses Q3 Earnings and Revenue Estimates

Core Viewpoint - TC Energy reported quarterly earnings of $0.76 per share, exceeding the Zacks Consensus Estimate of $0.70 per share, and showing a slight increase from $0.75 per share a year ago, indicating an earnings surprise of 8.57% [1] Financial Performance - The company achieved revenues of $2.99 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.95%, and showing an increase from $2.94 billion year-over-year [2] - Over the last four quarters, TC Energy has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Performance - TC Energy shares have increased approximately 23.6% since the beginning of the year, compared to the S&P 500's gain of 24.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.72 on revenues of $3.08 billion, and for the current fiscal year, it is $3.02 on revenues of $11.94 billion [7] - The trend of estimate revisions for TC Energy is mixed, which may change following the recent earnings report [6] Industry Context - The Alternative Energy - Other industry, to which TC Energy belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8]