TC Energy Corp

TRP: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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TC Energy Earnings: Midwest Capacity Approved; Canadian Growth Likely

Adam Baker

May 1, 2026

TC reported EBITDA at the high end of PitchBook consensus, CAD 3.09 billion versus CAD 3.04. The committed backlog increased by CAD 2.1 billion to CAD 23.2 billion, driven by sanctioning of the Appalachian Supply project. The uncommitted backlog declined by the same amount.

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TC Energy Corp

TC Energy Earnings: Midwest Capacity Approved; Canadian Growth Likely

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