Pipeline operator TC Energy raises spending outlook, posts lower Q2 profit

July 28 (Reuters) – Pipeline operator TC Energy (TRP.TO) raised its annual spending outlook on Thursday after reporting a fall in quarterly adjusted profit as expenses rose.

TC said it expects total capital expenditures for the year to be about C$8.5 billion ($6.63 billion) up from a prior estimate of C$7 billion.

The results come weeks after the Calgary-based TC declared force majeure on its Keystone deliveries.

The company said second-quarter comparable earnings fell to C$979 million ($763.71 million), or C$1 per share, in the three months ended June 30, from C$1.04 billion, or C$1.06 per share, a year earlier.

($1 = 1.2819 Canadian dollars)