Fortis Quarterly Earnings Lifted by Base Rate Growth Across Its Utilities
By Robb M. Stewart
Fortis logged a rise in earnings for the final quarter of last year as the Canadian utility benefited from base growth across its operations.
The holding company, which has electricity and natural gas operations in North America and the Caribbean, recorded a rise in fourth-quarter net earnings to 422 million Canadian dollars (US$310.8 million), or C$0.83 a share, from C$396 million, or C$0.79 a share, a year earlier.
On an adjusted basis to exclude items including a loss on Fortis's investments in Belize, per-share earnings increased to C$0.90, topping the C$0.85 mean estimate of analysts polled by FactSet.
The St. John's, Newfoundland, utility said its C$28.8 billion five-year capital plan is expected to increase midyear rate base from C$42.4 billion in 2025 to C$57.9 billion by 2030, making for a five-year compound annual growth rate of 7%. Fortis said it expects its long-term growth in rate base will drive earnings that support dividend-growth guidance of 4% to 6% annually through 2030.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
February 12, 2026 06:55 ET (11:55 GMT)
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