Fortis Inc

FTS

Equity

ISIN null / Valor 687999

Toronto Stock Exchange (2025-11-21)

CAD 72.66+0.12%

Fortis Inc
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About company

Fortis Inc. is a diversified international electric utility holding company with operations in North America and the Caribbean. The company owns and operates several electric utilities, including Newfoundland Power, Maritime Electric, FortisOntario, Fortis Turks and Caicos, Caribbean Utilities, and Belize Electricity. These utilities are categorized under the "Other Electric" segment in Fortis Inc.'s financial and investor relations materials. Additionally, Fortis Inc. holds a 39% interest in the Wataynikaneyap Partnership, which is also included in the same segment. The company's Corporate and Other Segment encompasses various other business activities.

Summarized from source with an LLMView SourceSector: Energy

Increased Net Earnings

Fortis Inc achieved net earnings of $384 million or $0.76 per common share in Q2 2025, up from $331 million or $0.67 per share in the same quarter of 2024. This growth was driven by rate base expansion, higher earnings from FortisBC Energy's Eagle Mountain Pipeline project, and favorable currency exchange rates.

Capital Expenditures on Track

The company invested $2.9 billion in capital expenditures during the first half of 2025, keeping its $5.2 billion annual capital plan on schedule. Significant projects include the Roadrunner Reserve 1 battery storage system and the planned conversion of coal-fired generation to natural gas at TEP's Springerville Generating Station.

Growth Opportunities at TEP

Tucson Electric Power (TEP) advanced load growth opportunities by securing an agreement to provide approximately 300 MW to a new data center, pending regulatory approvals. This initiative is expected to support additional capacity requirements in the coming years.

Regulatory Filings

TEP filed a general rate application with the Arizona Corporation Commission for new rates effective September 1, 2026, and an annual rate adjustment mechanism. Additionally, Central Hudson submitted a joint proposal to the New York State Public Service Commission for its general rate application, aiming for a three-year rate plan with continued favorable return on equity.

Stable Credit Ratings

Fitch Ratings assigned Fortis Inc first-time issuer and senior unsecured debt ratings of BBB+ with a stable outlook, underscoring the company's financial strength and reliable credit profile.

Summarized from source with an LLMView Source

Key figures

16.1%1Y

36.6%3Y

36.1%5Y

Performance

13.9%1Y

14.8%3Y

14.2%5Y

Volatility