TC Energy to Report Q4 Earnings: What Surprise Awaits Investors?

TC Energy Corporation TRP is set to report fourth-quarter earnings on Feb. 13. The Zacks Consensus Estimate for earnings is pegged at 65 cents per share, and the same for revenues is pinned at $2.93 billion.

Let us delve into the factors that might have influenced TRP’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.

Highlights of TRP’s Q3 Earnings & Surprise History

In the last reported quarter, the Calgary, Canada-based oil and gas storage and transportation service company’s adjusted earnings were in line with the consensus estimate. TRP posted adjusted earnings of 56 cents per share, driven by robust results from its Canadian, U.S. and Mexico Natural Gas Pipelines segments. This North America’s energy infrastructure provider's quarterly revenues of $3.7 billion outpaced the Zacks Consensus Estimate by $49 million.

TRP’s earnings beat the consensus estimate in two of the past four quarters, came in line in one quarter, and missed once, resulting in an average surprise of 2.49%.

This is depicted in the graph below:   

TC Energy Corporation Price and EPS Surprise

TC Energy Corporation price-eps-surprise | TC Energy Corporation Quote

Trend in TRP’s Estimate Revision

The Zacks Consensus Estimate for fourth-quarter 2025 earnings has seen one upward and three downward movements over the past 30 days. The estimated figure indicates a 13.33% year-over-year bottom-line decrease. However, the Zacks Consensus Estimate for revenues indicates an increase of 14.79% from the year-ago period’s level.

Factors to Consider Ahead of TRP’s Q4 Release

TC Energy makes money by operating and maintaining a vast network of pipelines that transport natural gas and oil across North America, through which it charges fees to companies that need to move these energy products from one location to another. In addition, the company earns revenues from natural gas storage, power generation operations and other energy-related services. As a result, by acting as a middleman in energy transportation, storage and power generation, TRP generates income through its diversified infrastructure and service offerings.

TRP’s revenues are likely to have improved in the quarter to be reported. The Zacks Consensus Estimate for fourth-quarter revenues is expected to have increased from the year-ago quarter’s level.

On the cost side, TRP's rising expenses are likely to have negatively dented its upcoming bottom line.  The company’s third-quarter total costs and expenses were higher than the year-ago quarter’s figure, and we believe this upward trajectory is expected to have persisted in the quarter to be reported.

What Does Our Model Predict About TRP?

Our proven model does not predict an earnings beat for TC Energy this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here.

Earnings ESP of TRP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate for this company, is -0.23%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

TRP’s Zacks Rank: TRP currently carries a Zacks Rank #3.

Stocks With the Favorable Combination

Here are some firms from the other space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

IPG Photonics IPGP is scheduled to release earnings on Feb. 12. The firm has an Earnings ESP of +15.08% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

IPG Photonics is a global leader in high-performance fiber lasers and amplifiers used across industrial, medical and communications applications. The company generates revenues by providing advanced laser solutions that enable precision cutting, welding, marking and other manufacturing processes worldwide. IPG Photonics’ earnings missed the Zacks Consensus Estimate in three of the last four quarters and beat in the other one, resulting in an average surprise of 89.09%.

Applied Materials AMAT has an Earnings ESP of +3.06% and a Zacks Rank #2. The firm is scheduled to release earnings on Feb. 12. Applied Materials’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, resulting in an average surprise of 4.17%.

The company is a leading global supplier of manufacturing equipment, services and software used to produce semiconductors, display panels and advanced electronic devices. Applied Materials plays a critical role in enabling chipmakers to advance technologies such as artificial intelligence, cloud computing and next-generation communications.

Expedia Group EXPE has an Earnings ESP of +4.39% and a Zacks Rank #2. The firm is scheduled to release earnings on Feb. 12. Expedia Group’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed in the other one, resulting in an average surprise of 4.53%.

The company is a leading global online travel platform that operates brands such as Expedia, Hotels.com, Vrbo and Orbitz. Expedia Group generates revenues by offering travel bookings for flights, hotels, vacation rentals, car rentals and activities, connecting millions of travelers with suppliers worldwide.

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This article originally published on Zacks Investment Research (zacks.com).

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