Morningstar

Fortis Quarterly Earnings Up Slightly

Provided by Dow Jones May 6, 2026, 11:03:00 AM

By Robb M. Stewart

Fortis saw a modest rise in earnings in the latest quarter thanks to rate-base growth for the Canadian utility.

The holding company, which has electricity and natural-gas operations in North America and the Caribbean, recorded a rise in first-quarter net earnings to 562 million Canadian dollars (US$412.6 million), or C$0.99 a share, from C$558 million, or C$1 a share, a year earlier. Analysts polled by FactSet had penciled in C$515 million for the three months.

Revenue nudged up 1.9% on last year to C$3.4 billion.

Capital expenditures for the latest quarter hit C$1.4 billion, leaving the St. John's, Newfoundland, utility on track for planned annual spending of C$5.6 billion, it said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

May 06, 2026 07:03 ET (11:03 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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