Fortis delivers $396 million profit in latest quarter

• Fortis reported second-quarter 2026 net earnings of $396 million, up from $384 million a year earlier.
• The company invested $2.7 billion in capital projects during the first half of 2026.
• Fortis maintained its long-term capital plan and dividend growth outlook.

Fortis (NYSE:FTS) reported second-quarter 2026 net earnings attributable to common shareholders of $396 million, or $0.78 per share, compared with $384 million, or $0.76 per share, in the prior-year quarter.

Year-to-date net earnings increased to $897 million, with earnings per share reaching $1.76, while the company continued executing its capital investment programme.

During the period under review, Fortis invested $2.7 billion in capital expenditures and received approval for the Tilbury LNG Phase 1B expansion with a cost allowance of up to $2.2 billion.

The company maintained its investment-grade credit ratings and reaffirmed its long-term investment plans.

Fortis also placed the 200 MW Roadrunner Reserve II battery storage project into service and expects its $28.8 billion five-year capital plan to increase rate base from $42.4 billion in 2025 to $57.9 billion by 2030.

The company expects its rate base to grow at a 7% compound annual growth rate and continues to target annual dividend growth of 4% to 6% through 2030.