TC Energy posts $1 billion quarterly loss on Keystone XL suspension By Reuters

© Reuters. FILE PHOTO: A TC Energy pump station sits behind mounds of dirt from the Keystone XL crude oil pipeline as it lies idle near Oyen, Alberta, Canada February 1, 2021. REUTERS/Todd Korol

(Reuters) – Canadian pipeline operator TC Energy (NYSE:) on Friday posted a loss of C$1 billion ($821.36 million) in the first quarter, hit by C$2.2 billion impairment charges related to the suspension of its Keystone XL pipeline project.

The Calgary, Alberta-based company reported net loss attributable to shareholders of C$1.1 billion, or C$1.11 per share, in the three months ended March 31, compared with a profit of C$1.1 billion, or C$1.20 per share, in the fourth quarter.

Excluding items, TC Energy earned C$1.16 per share.

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