TC Energy Reports 12% Growth in Q2 2025 Earnings, Raises Guidance to $10.8-$11.0B

TC Energy reported a 12% increase in comparable EBITDA for Q2 2025, reaching $2.6 billion. The company raised its 2025 comparable EBITDA guidance to $10.8-$11.0 billion and announced $4.5 billion in new growth projects over the past nine months. TC Energy plans to place approximately $8.5 billion of capital projects into service in 2025, tracking 15% below the budget. The company declared a quarterly dividend of $0.85 per common share.

TC Energy Corporation (TSX, NYSE: TRP) has reported a strong second quarter (Q2) 2025, with a 12% increase in comparable EBITDA to $2.6 billion. The company also raised its 2025 comparable EBITDA guidance to a range of $10.8 to $11.0 billion [1].

The company attributed its robust performance to solid execution and asset performance, as well as market fundamentals driving customer demand for incremental capacity projects. TC Energy has announced $4.5 billion in new growth projects over the past nine months, including requests for incremental capacity on existing projects [1].

The company plans to place approximately $8.5 billion of capital projects into service in 2025, tracking 15% below the budget. This disciplined approach is designed to capture high-value, low-risk opportunities across North America that drive long-term shareholder value [1].

TC Energy declared a quarterly dividend of $0.85 per common share for the quarter ending September 30, 2025. This dividend is equivalent to $3.40 per common share on an annualized basis [1].

Key operational highlights include a new record of 15.5 Bcf of total NGTL System receipts on April 13, 2025, and a 98% availability of Bruce Power in the second quarter 2025 [1].

The Southeast Gateway pipeline, which was placed in service, has commenced toll collection from the Comisión Federal de Electricidad (CFE) beginning May 2025 [1]. The East Lateral XPress (ELXP) project, an expansion on the Columbia Gulf system, was also placed in service in May 2025 [1].

TC Energy's President and Chief Executive Officer, François Poirier, commented, "Our commitment to safety and operational excellence continues to drive strong reliability, availability, and financial performance, and we now expect our 2025 comparable EBITDA outlook to be higher, in the range of $10.8 to $11.0 billion" [1].

References:
[1] https://www.tcenergy.com/announcements/2025/2025-07-31-tc-energy-reports-strong-second-quarter-2025-operating-and-financial-results/