TC Energy (TRP) Meets Q3 Earnings Estimates

Core Insights - TC Energy reported quarterly earnings of $0.56 per share, matching the Zacks Consensus Estimate, but down from $0.76 per share a year ago [1] - The company generated revenues of $2.69 billion for the quarter, exceeding the Zacks Consensus Estimate by 1.87%, but down from $2.99 billion year-over-year [2] - TC Energy's stock has increased by approximately 8.2% since the beginning of the year, compared to a 15.6% gain in the S&P 500 [3] Earnings Performance - The company has surpassed consensus EPS estimates two times in the last four quarters [1] - TC Energy has topped consensus revenue estimates three times over the last four quarters [2] Future Outlook - The company's earnings outlook will be influenced by management's commentary during the earnings call [3] - Current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $2.95 billion, and for the current fiscal year, it is $2.61 on revenues of $10.91 billion [7] Industry Context - The Alternative Energy - Other industry, to which TC Energy belongs, is currently ranked in the bottom 37% of over 250 Zacks industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5]