Fortis Inc (PK) (FTRSF)

Fortis tops first-quarter earnings forecasts as capital investment program advancesMay 6, 2026 8:31 AM
IH Market News Fortis (NYSE:FTS) reported first-quarter earnings on Wednesday that exceeded analyst expectations, supported by continued rate base growth and progress on its long-term infrastructure investment strategy.The regulated North American utility company posted earnings of $0.99 per share for the quarter, comfortably ahead of Wall Street forecasts of $0.67 per share.Net earnings totaled $501 million for the period ended March 31, 2026, broadly unchanged from the same quarter last year. Rate base growth supports quarterly performance Fortis said earnings growth during the quarter was driven by expanding rate bases across its utility operations and favorable timing of earnings contributions at Central Hudson.These gains were partly offset by lower earnings at UNS Energy, where wholesale electricity market conditions and planned maintenance expenses weighed on results.“First quarter results were in line with our expectations, and reflect the strength of our diversified business and the continued execution of our low-risk capital plan,” said David Hutchens, president and chief executive officer of Fortis. Data center infrastructure projects continue to expand Fortis invested approximately $1.4 billion in capital expenditures during the quarter, keeping the company on pace to meet its full-year capital spending plan of $5.6 billion.In March, the company completed a substation project designed to support 300 megawatts of load growth tied to the first data center at the Big Cedar Industrial Center.Additional transmission infrastructure upgrades are currently underway at the site to support another 1,600 megawatts of future data center demand, with completion expected by 2028. Arizona rate approval provides additional support Fortis also highlighted a February decision by the Arizona Corporation Commission approving the UNS Gas general rate application.The ruling included authorization for a 9.61% return on common equity and a capital structure consisting of 56% common equity.The regulator also approved an annual formula-based rate adjustment mechanism, with updated rates taking effect on March 1, 2026. Long-term growth and dividend targets maintained Fortis reaffirmed its five-year capital investment plan totaling $28.8 billion.The company expects the plan to increase its midyear rate base from $42.4 billion in 2025 to $57.9 billion by 2030, representing a compound annual growth rate of 7%.Fortis also maintained its expectation for annual dividend growth of between 4% and 6% through 2030.Fortis stock price Original: Fortis tops first-quarter earnings forecasts as capital investment program advances

Fortis Tops Q4 Profit Forecasts on Regulated Asset ExpansionFebruary 12, 2026 8:36 AM
IH Market News
Fortis Inc. (NYSE:FTS) delivered fourth-quarter adjusted earnings that comfortably exceeded analyst expectations, supported by continued growth in its regulated utility operations.Adjusted earnings per share for the quarter came in at $0.90, well above the $0.61 consensus estimate. Net earnings for the fourth quarter totaled $422 million, or $0.83 per share, up from $396 million, or $0.79 per share, a year earlier.For full-year 2025, Fortis reported net income of $1.7 billion, or $3.40 per common share. Adjusted net earnings per share reached $3.53, compared with $3.28 in 2024.“2025 was another year of strong financial and operational performance for Fortis, reflecting the dedication of our people, the growth of our regulated utilities, and our commitment to long-term value creation,” said President and CEO David Hutchens.The company invested $5.6 billion in capital expenditures during 2025, contributing to 7% annual rate base growth. Fortis recently unveiled a record five-year capital plan totaling $28.8 billion, which is expected to support average annual rate base growth of 7% through 2030 and underpin projected annual dividend increases of 4% to 6% over the same period.Earnings growth was primarily driven by expansion of the regulated rate base, including contributions from major infrastructure projects. Additional tailwinds included cost rebasing at Central Hudson effective July 2024, unrealized gains on derivatives and favorable currency movements.These positives were partly offset by higher costs at UNS Energy tied to rate base growth not yet reflected in customer rates, weaker retail electricity demand due to milder weather and reduced wholesale electricity margins.Fortis also declared a 4.1% increase in its fourth-quarter common share dividend.Fortis stock price

Original: Fortis Tops Q4 Profit Forecasts on Regulated Asset Expansion

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Got this from FTS - CRA: Big Changes for RRSP and CPP in 2021

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