Fortis Q3 earnings rise to C$474 million
Key points
- Fortis reported third-quarter 2026 net earnings of C$474 million, up from C$409 million a year earlier, while earnings per share increased to C$0.92.
- Adjusted earnings rose to C$0.92 per share from C$0.87, while the company increased its quarterly dividend by 4% to C$0.665 per share.
- Fortis introduced a C$32.2 billion capital investment plan for 2027–2031, representing a C$3.4 billion increase over its previous plan.
Fortis (NYSE:FTS) reported third-quarter 2026 net earnings of C$474 million, up C$65 million, while introducing a C$32.2 billion capital plan.
Earnings per share increased to C$0.92 from C$0.81 a year earlier, while adjusted earnings rose from C$0.87 to C$0.92 per share.
The new five-year capital plan increased C$3.4 billion, while Fortis raised expected 2026 capital spending to approximately C$6.0 billion.
Fortis forecasts 7.5% annual rate base growth through 2031 and raised its quarterly dividend 4% to C$0.665 per share, payable December 1.
Subsidiary ITC secured a US$1 billion Iowa transmission project, with US$500 million included in the company's 2027–2031 capital plan.
Fortis also extended its 4%–6% annual dividend growth guidance through 2031, while Tucson Electric Power's proposed rates await Arizona regulatory approval.
Frequently asked questions
More from United States
Archer-Daniels-Midland Q3 revenue climbs 10% to $22.34B
Cinemark sees strong Q3 growth as revenue hits $1.06B
Amneal Pharmaceuticals Q3 revenue comes in at $863M, up 10%
Revvity Q3 revenue comes in at $729 million
IDEAYA Biosciences Q3 loss widens to $125.7 million
Dynatrace Q2 revenue increases 17% to $580 million
