Sep 2025 (Q3 FY25) — Nov 6, 2025
TC Energy Q3 FY25 — Strong Project Execution and Increased Growth Outlook
Read the full callTC Energy (TRP) earnings
- Sep 2025 (Q3 FY25)
- Dec 2025
TC Energy earnings: last reported Thu, 6 Nov 2025, for the quarter ended Sep 2025.
Price
$60.69 −1.70% · −$1.05
Performance +18.0% 1Y
1Y: $51.44 on 17 Oct 2025 → $60.69. High $70.91 (22 May 2026), low $49.79 (4 Nov 2025).
- Previous close
- $61.74
- 52-week range
- $49.79 – $70.91
- One year
- +17.75%
Overview
- Symbol
- TRP
- Sector
- Utilities
- Industry
- Natural Gas Transmission
- Exchange
- US
- Currency
- USD
Call summaries
Jun 2025 (Q2 FY25) — Jul 31, 2025
TC Energy Q2 FY25 — Strong EBITDA Growth and Project Execution
Read the full callEvery analysed call
TC Energy earnings calls (TRP)
Financials
What the filings say
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 17,004 | 18,767 | 19,222 | 21,023 | 21,417 | 22,642 | 20,920 | 22,070 |
| Reserves | 2,035 | 3,044 | 4,213 | 2,969 | 605 | -2,262 | -3,643 | -4,327 |
| Total liabilities | 49,841 | 51,470 | 52,455 | 55,731 | 59,263 | 64,922 | 55,519 | 59,781 |
| Fixed assets | 48,796 | 50,398 | 54,769 | 55,227 | 56,092 | 52,413 | 53,864 | 51,895 |
| Total assets | 72,582 | 76,401 | 78,729 | 82,010 | 84,462 | 94,361 | 82,180 | 86,731 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 4,810 | 5,450 | 5,540 | 5,422 | 4,709 | 5,485 | 5,349 | 5,365 |
| Cash from investing | -7,351 | -5,288 | -4,750 | -6,069 | -5,177 | -9,273 | -4,802 | -4,717 |
| Cash from financing | 2,016 | 533 | -628 | -69 | 360 | 6,108 | -2,692 | -1,107 |
| Net cash flow | -472 | 690 | 147 | -674 | -39 | 2,308 | -2,000 | -462 |
| Capital expenditure | -6,910 | -5,752 | -6,986 | -5,614 | -6,619 | -9,281 | -5,493 | — |
| Free cash flow | -2,101 | -302 | -1,446 | -192 | -1,910 | -3,796 | -145 | — |
TRP operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Change vs prior quarter |
|---|---|---|---|
| Availability Bruce Power | 98%On the bottom of the slide, in our Power and Energy Solutions business, Bruce achieved 98% availability in an exceptionally strong quarter while also receiving its annual price adjustment as of April 1.Source: earnings call transcript | 94%In our Power and Energy Solutions business, Bruce Power achieved 94% availability, which includes the planned outages on Units 3 and 4 and is in line with our expected annual availability in the low 90% range for full year 2025.Source: earnings call transcript | -4 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
No filings in the last 12 months.
No officer, director or 10% owner of TRP filed a Form 4 in this window. That is a statement about filings, not about ownership — see the note below.
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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