TC Energy lifts 2026 profit outlook and greenlights $3 bn of new pipeline projects
TC Energy announced that its adjusted core profit forecast for 2026 has been raised to C$11.8‑C$12.0 billion, up from C$11.6‑C$11.8 billion. The company also approved roughly US$2.1 billion of U.S. pipeline expansions – the Crossroads project (US$1.8 bn) and the American Midwest project (US$400 m) – and a C$4.9 billion Phase 2 expansion of the Coastal GasLink pipeline in Canada. The projects are slated for in‑service dates around 2030‑early 2030s and are intended to meet growing natural‑gas demand from data centres and LNG exports.
Why it matters
The higher profit guidance signals stronger earnings potential for the next year, which could lift the stock price. The approved capital projects add about 2.4 billion cubic feet per day of U.S. capacity and 2 billion cubic feet per day in Canada, expanding TC Energy’s fee‑based revenue base into the early 2030s.
Key facts
- 1Adjusted core profit forecast for 2026 was raised to C$11.8 billion‑C$12.0 billion, from C$11.6 billion‑C$11.8 billion. bnnbloomberg.ca
- 2The company approved US$1.8 billion for the Crossroads Expansion. bnnbloomberg.ca
- 3US$400 million was approved for the American Midwest expansion. bnnbloomberg.ca
- 4Coastal GasLink Phase 2 expansion was approved at C$4.9 billion. offshore-technology.com
- 5The U.S. projects together add 2.4 billion cubic feet per day of capacity. bnnbloomberg.ca
- 6Construction for the Coastal GasLink Phase 2 is expected to begin in early 2027 with service in the early 2030s. offshore-technology.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.