Business

TC Energy reports Q4 profit of $1.1B, raises quarterly dividend – BNN

Published

3 years ago

February 15, 2022

CALGARY – The company behind the Coastal GasLink pipeline continues to expect to go “significantly” over budget for the project and will also deliver a delayed completion date.

However, TC Energy Corp. said Tuesday it still expects the pipeline to be finished ahead of LNG Canada’s export terminal at Kitimat, B.C., which is also currently under construction.

Calgary-based TC Energy was selected by LNG Canada in 2011 to design, build, own and operate Coastal GasLink. Construction began in 2019, with an originally anticipated completion date of 2023.

TC Energy said as part of its fourth quarter earnings report Tuesday that construction of the pipeline is now approximately 60 per cent complete. The 670-kilometre project is intended to move 2.1 billion cubic feet per day (bcf/d) of natural gas to LNG Canada’s terminal, where it will be converted into a liquified state for export to global markets.

But head of corporate development Bevin Wirzba acknowledged in a conference call with analysts that TC Energy remains at odds with LNG Canada over projected cost increases and schedule delays. The company has previously blamed permit delays and the impacts of COVID-19 for the issues.

Wirzba declined to put a dollar value on the project’s cost overruns, though he said TC Energy is engaged in a “constructive dialogue” with LNG Canada right now to resolve the dispute. He said no suspension of construction is expected while talks take place.

Adblock test (Why?)

Source link

Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

5 hours ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

Source link

Business

Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

5 hours ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

Source link

Business

Thomson Reuters reports Q3 profit down from year ago as revenue rises

Published

5 hours ago

November 5, 2024

Anne Joseph

TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:TRI)

Source link