By The Canadian Press

TC Energy reports $1.15B first-quarter profit, up from $1.0B a year ago

May 1, 2020 | 7:22 AM

CALGARY – TC Energy Corp. reported a first-quarter profit of $1.15 billion, up from $1.0 billion a year ago.

The company formerly known as TransCanada says the profit amounted to $1.22 per diluted share for the quarter ended March 31 compared with $1.09 per diluted share in the first quarter of 2019.

Revenue for the three months totalled nearly $3.42 billion, down from nearly $3.49 billion in the same quarter last year.

TC Energy says its comparable earnings for first quarter 2020 were $1.1 billion or $1.18 per share compared with $1.0 billion or $1.07 per share in 2019.

Analysts on average had expected a profit of $1.06 per share, according to financial markets data firm Refinitiv.

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