EarningsQ2 2026 Earnings Report
MX:FTSN Q2 2026 EPS Results
Actual EPS$9.59
Consensus EPS$9.37
Beat/MissBeat by +$0.22
One Year Ago EPS$9.35
MX:FTSN Q2 2026 Revenue Results
Actual Revenue$36.05B
Expected Revenue$32.05B
Beat/MissBeat by +$4.00B
YoY Revenue Growth+4.12%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
MX:FTSN Upcoming Earnings
Fortis's next earnings date is estimated for October 23, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:FTSN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed a constructive growth story: core regulated utilities are executing a large capital plan, management secured a key approval for Tilbury 1B, meaningful sustainability progress was reported, credit ratings and funding execution remain solid, and multiple large growth opportunities (transmission and data center-related generation) are in the pipeline. Offsetting items include modest near-term EPS growth, regulatory timing/lag issues, FX and disposition-related impacts, and uncertainty around the timing, approvals and funding of large above-plan projects. On balance, the positive execution, approvals and growth visibility outweigh the challenges, but investors should monitor regulatory outcomes and funding assumptions as the 5-year plan is refreshed in the fall.Company Guidance
Strong Capital Investment and On-Track 2026 Plan
Invested $2.7 billion through June and reported nearly half of the annual capital plan invested; reaffirmed expectation to invest $5.6 billion in 2026 with major projects tracking well and average annual rate base growth expected of 7% through 2030.
Tilbury 1B Order in Council and Potential $2B Regulated Investment
Received an Order in Council approving an expanded Tilbury 1B project in British Columbia, enabling approximately $2 billion of total investment in regulated rate base (currently ~$350 million in the existing 5-year plan); construction could start as early as mid-2027 with service as early as 2031, subject to further approvals.
Quarterly and Year-to-Date Earnings
Reported Q2 net earnings of $396 million and EPS of $0.78, an increase of $0.02 year-over-year (approximately +2.6%); year-to-date earnings were $897 million or $1.76 per share.
Credit Ratings and Funding Execution
S&P confirmed A- issuer and BBB+ unsecured debt ratings with stable outlook; Fitch confirmed BBB+ issuer and unsecured ratings with stable outlook. Utilities issued $2.1 billion of long-term debt in the first half and management reports funding plan remains on track.
Decarbonization and Sustainability Progress
Released 2026 sustainability report showing a 38% reduction in Scope 1 greenhouse gas emissions through 2025 compared to 2019 levels.
Battery Storage Asset Placed in Service
TEP placed the second Roadrunner Reserve battery storage project in service: a 200 MW energy storage system with 800 MWh capacity, capable of serving ~42,000 homes for 4 hours at full deployment.
Material Growth Opportunities Across the Portfolio
ITC expects USD 3.3 billion to USD 3.8 billion of investment beyond 2030 for awarded MISO projects not subject to competitive bidding. TEP is negotiating for incremental data center capacity (300 MW at first site, 500–700 MW potential at second site) that could require USD 1.5 billion to USD 2 billion of new generation investment if finalized.
Rate Benefits from LNG and Pipeline Projects
Sales of LNG from Tilbury 1A have delivered an approximate 1.5% rate benefit for British Columbia customers since 2024; the Eagle Mountain Pipeline, once in service, is expected to provide an additional ~1.5% rate benefit.
Dividend Track Record and Guidance
Affirmed dividend remains core to the investment thesis with 52 consecutive years of increases and guidance for 4%–6% annual dividend growth through 2030.
Regulatory Progress and Near-Term Timelines
TEP rate case procedural schedule advanced through hearings; expecting recommended opinion and order from the administrative law judge and a final decision by November with implementation timing in December; management expressed confidence in regulatory outcomes including likely ARAM implementation.
MX:FTSN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed