TC Energy Corp reports results for the quarter ended March 31 - Earnings Summary

• TC Energy Corp TRP.TO reported quarterly adjusted earnings of 95 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of C$1.24. The mean expectation of nine analysts for the quarter was for earnings of 97 cents per share. Wall Street expected results to range from 92 cents to C$1.10 per share.

• Revenue fell 14.6% to C$3.62 billion from a year ago; analysts expected C$3.36 billion.

• TC Energy Corp's reported EPS for the quarter was 94 cents​.

• The company reported quarterly net income of C$978 million.

• TC Energy Corp shares had risen by 6.8% this quarter and gained 8.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.3% in the last three months.​

• In the last 30 days, five analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 3 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the oil & gas transportation services peer group is also "hold"

• Wall Street's median 12-month price target for TC Energy Corp is C$73.38

This summary was machine generated from LSEG data May 1 at 01:31 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)