TransCanada Q2 EPS Beats Street Mark

TransCanada’s Q2 EPS rose to CAD0.76 from CAD0.52 a year earlier, beating Capital IQ’s poll estimate of CAD0.69, sending its shares higher pre-bell. The company also said it expected higher 2017 results as it proceeded with various expansion plans and would get reimbursement for its investment in the terminated gas pipeline project.

Revenues rose to CAD3.22 billion from CAD2.75 billion a year ago, but still trailing the CAD3.29 billion estimate.
Looking ahead, the company said its comparable earnings outlook for 2017 is expected to be higher than what was previously included in the 2016 annual report due to stronger performance across its business segments.

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