TC Energy Corporation (TRP) Earnings History
Earnings Pressure26 years of earnings data (2000–2025) · 5-year EPS trend is negative
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TC Energy Corporation (TRP) Earnings Overview
As of July 8, 2026, TC Energy Corporation (TRP) reported trailing twelve-month net income of $3.44B, reflecting -26.2% year-over-year growth. The company earned $3.30 per diluted share over the past four quarters, with a net profit margin of 23.2%.
Looking at the long-term picture, TRP's 5-year EPS compound annual growth rate (CAGR) stands at -7.2%, signaling declining earnings. The company achieved its highest annual net income of $4.70B in fiscal 2024.
TC Energy Corporation maintains industry-leading profitability with a gross margin of 50.0%, operating margin of 44.2%, and net margin of 23.2%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including ENB ($7.57B net income, 11.5% margin), KMI ($3.31B net income, 18.0% margin), WMB ($2.84B net income, 21.9% margin), TRP has outperformed on profitability metrics. Compare TRP vs ENB →
TRP Earnings vs Peers
Earnings metrics vs comparable public companies
TRP Historical Earnings Data (2000–2025)
26 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.52B | -25.2% | $6.72B | $3.27 | 23.2% | 44.2% |
| 2024 | $4.70B | +60.8% | $5.79B | $4.43 | 34.1% | 42.0% |
| 2023 | $2.92B | +290.6% | $5.89B | $2.75 | 22.0% | 44.4% |
| 2022 | $748M | -61.7% | $5.07B | $0.64 | 6.1% | 41.2% |
| 2021 | $1.96B | -57.6% | $5.91B | $1.86 | 14.6% | 44.1% |
| 2020 | $4.62B | +11.5% | $5.80B | $4.74 | 35.5% | 44.6% |
| 2019 | $4.14B | +11.8% | $5.79B | $4.27 | 31.2% | 43.7% |
| 2018 | $3.70B | +17.3% | $5.68B | $4.10 | 27.1% | 41.5% |
| 2017 | $3.16B | +1254.9% | $4.54B | $3.43 | 23.5% | 33.7% |
| 2016 | $233M | +120.3% | $4.02B | $0.16 | 1.9% | 32.1% |
| 2015 | -$1.15B | -162.3% | $3.53B | $-1.62 | -10.1% | 31.2% |
| 2014 | $1.84B | +3.0% | $3.29B | $2.46 | 18.1% | 32.3% |
| 2013 | $1.79B | +31.9% | $2.88B | $2.42 | 20.3% | 32.7% |
| 2012 | $1.35B | -14.4% | $2.57B | $1.84 | 16.9% | 32.1% |
| 2011 | $1.58B | +23.7% | $2.75B | $2.17 | 20.2% | 35.1% |
| 2010 | $1.28B | -7.4% | $1.93B | $1.77 | 18.7% | 28.2% |
| 2009 | $1.38B | -4.2% | $2.76B | $2.11 | 15.4% | 30.8% |
| 2008 | $1.44B | +17.7% | $3.17B | $2.52 | 16.7% | 36.8% |
| 2007 | $1.22B | +13.4% | $2.66B | $2.30 | 13.9% | 30.1% |
| 2006 | $1.08B | -10.8% | $2.93B | $2.20 | 14.3% | 38.9% |
| 2005 | $1.21B | +17.2% | $2.48B | $2.47 | 19.7% | 40.5% |
| 2004 | $1.03B | +21.2% | $2.74B | $2.12 | 20.2% | 53.6% |
| 2003 | $851M | +5.9% | $2.88B | $1.76 | 15.9% | 53.7% |
| 2002 | $804M | +17.2% | $5.21B | $1.55 | 15.4% | 100.0% |
| 2001 | $686M | -13.2% | $2.15B | $1.30 | 13.1% | 41.0% |
| 2000 | $790M | - | $2.01B | $1.50 | 3.7% | 9.5% |
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TRP — Frequently Asked Questions
Quick answers to the most common questions about buying TRP stock.
What is TRP earnings per share (EPS)?
TRP trailing twelve-month (TTM) diluted EPS is $3.30, reflecting -26.2% year-over-year growth. The 5-year EPS CAGR is -7.2%. Complete EPS history from 2000 to 2025 is available in the table on this page.
What is TC Energy Corporation's net income?
TC Energy Corporation (TRP) trailing twelve-month net income is $3.4B as of 2025. Earnings declined -26.2% year-over-year. TC Energy Corporation has been profitable for 10 consecutive years.
Is TRP profitable?
Yes, TRP is profitable with a TTM net income of $3.4B and a net profit margin of +23.2%. TC Energy Corporation has generated profits for 10 consecutive years.
What is TRP's earnings growth rate?
TRP compound annual EPS growth rates (CAGR): 1-Year: -26.2%, 3-Year: +72.2%, 5-Year: -7.2%, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2000 to 2025.
What are TRP's profit margins?
TC Energy Corporation net profit margin is +23.2%, operating margin is +44.2%, and gross margin is +50.0%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +9.3%.
Is TRP growing earnings?
TRP earnings are declining — EPS fell -26.2% year-over-year. TTM net income dropped to $3.4B. This contrasts with the 5-year CAGR of -7.2%.
What was TRP's best earnings year?
TC Energy Corporation's highest annual net income on record is $4.7B, achieved in fiscal year 2024. Earnings history on this page spans 2000 to 2025 and includes all annual and quarterly figures.
What were TRP's earnings last quarter?
TRP's most recent reported quarter was Q1 2026. Net income was $929M with diluted EPS of $0.86. For a full breakdown of all quarters, see the quarterly earnings table on this page.