ExpansionMay 1, 2026, 06:33 AM
TRP Approves US$1.5B Columbia Gas Expansion; Q1 EBITDA +14%
AI Summary
TC Energy reported strong first quarter 2026 results, with comparable EBITDA up 14% to $3.1 billion and segmented earnings up 10% to $2.2 billion. The company approved the US$1.5 billion Appalachia Supply Project, a strategic expansion on its Columbia Gas system, expected to provide up to 0.8 Bcf/d capacity by 2030. Operational excellence led to seven delivery records across North America, and TC Energy reaffirmed its 2026 outlook for higher comparable EBITDA and EPS.
Key Highlights
- Approved US$1.5 billion Appalachia Supply Project on Columbia Gas system.
- Q1 2026 Comparable EBITDA increased 14% to $3.1 billion.
- Q1 2026 Segmented earnings increased 10% to $2.2 billion.
- Q1 2026 Comparable earnings were $1.0 billion, or $0.99 per common share.
- Declared quarterly dividend of $0.8775 per common share.
- Canadian Natural Gas Pipelines deliveries averaged 29.7 Bcf/d, up 3%.
- U.S. Natural Gas Pipelines daily average flows were 32.6 Bcf/d, up 5%.
- Reaffirmed 2026 comparable EBITDA outlook of $11.6 to $11.8 billion.