TC Energy Corporation

Strong Financial Performance: TC Energy reported a 9% year-over-year increase in comparable EBITDA for 2025, with fourth-quarter EBITDA growing by 13%. The company is on track to achieve comparable EBITDA of $11.6 billion to $11.8 billion in 2026, with a long-term outlook projecting growth to $12.6 billion to $13.1 billion by 2028.

Capital Allocation and Growth Opportunities: TC Energy has identified approximately $8 billion in high-conviction pending projects and an additional $12 billion in new opportunities in origination. The company is focused on deploying around $6 billion in net capital expenditures annually through 2030, with potential for increased investment in later years driven by high-quality, low-risk projects, primarily in natural gas and power sectors.

Project Execution Excellence: The company successfully placed $8.3 billion of projects into service on schedule and over 15% under budget. This trend of positive execution is expected to continue, supporting both the $6 billion annual capital target and growth in EBITDA.