Fortis ( (FTS) ) has released its Q3 earnings. Here is a breakdown of the information Fortis presented to its investors.
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Fortis Inc., a prominent player in the North American regulated electric and gas utility sector, has announced its third-quarter 2025 financial results, alongside a new five-year capital outlook and a 4% increase in its fourth-quarter dividend.
The company reported net earnings of $409 million for the third quarter, with adjusted net earnings per share rising to $0.87 from $0.85 in the previous year. Fortis also unveiled a substantial $28.8 billion capital plan for 2026-2030, aimed at supporting a 7% rate base growth. Additionally, the company has increased its fourth-quarter dividend by 4.1% and extended its annual dividend growth guidance of 4-6% through 2030.
Key financial metrics indicate a slight decrease in net earnings per share compared to the previous year, primarily due to costs associated with asset dispositions. However, adjusted net earnings showed an increase, driven by rate base growth and favorable exchange rates. The company also highlighted significant capital expenditures and strategic asset sales in Turks and Caicos and Belize, which are expected to bolster its balance sheet.
Looking forward, Fortis remains committed to enhancing shareholder value through its robust capital plan and diversified portfolio. The company anticipates continued growth in its rate base, which is expected to drive earnings and support its dividend growth targets through 2030. Fortis is also focused on expanding its electric transmission grid and investing in cleaner energy infrastructure across its jurisdictions.