TC Energy reports lower profit, higher revenues in Q2 as it announces split

TC Energy Corp. reported its second-quarter profit tumbled compared with a year ago as it announced it's splitting the company into two.

The pipeline operator says its net income attributable to common shares was $250 million in the second quarter, down from $889 million a year earlier.

However, net income for the fiscal year so far was $1.6 billion, up from $1.2 billion for the same six-month period last year.

Net income per common share was 24 cents, down from 90 cents last year, and comparable earnings were 96 cents per share, down from a dollar.