By Adriano MarcheseTC Energy on Friday reported a profit in the fourth quarter, but warned that earnings will be lower this year following the sale of its stake in Columbia Gas and Columbia Gulf last year. Comparable earnings before interest, tax, depreciation and amortization--a measure of profit followed by industry analysts--rose nearly 16% to C$3.11 billion, topping analyst expectations of an increase to C$2.81 billion, according to FactSet. Looking ahead to 2024, TC energy expects comparable earnings per share to decline from 2023 levels due to higher net income attributable to noncontrolling interests following the sale of a 40% stake in Columbia Gas and Columbia Gulf last year. For net expenditures, the company expects this to be in the range of C$8 billion to C$8.5 billion. Write to Adriano Marchese at adriano.marchese@wsj.com(END) Dow Jones Newswires02-16-24 0711ET

Source: Wall Street Journal February 16, 2024 12:16 UTC