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Fortis Inc. reported solid 2025 results, with annual net earnings of $1.7 billion, or $3.40 per common share, up from $3.24 in 2024 despite losses on the sales of FortisTCI and its Belize utilities.
Adjusted basic earnings per share rose to $3.53 from $3.28, driven mainly by regulated rate base growth, rebasing of costs at Central Hudson, unrealized derivative gains and favourable foreign exchange, partly offset by weaker results at UNS Energy and higher corporate costs.
Capital expenditures of $5.6 billion increased midyear rate base to $42.4 billion, a 7% rise. Fortis outlined a larger 2026‑2030 capital plan of $28.8 billion, targeting rate base of $57.9 billion by 2030 and supporting dividend growth guidance of 4‑6% annually. The company also highlighted a 38% reduction in scope 1 emissions since 2019 and reaffirmed its coal‑free 2032 and 2050 net‑zero goals.
Fortis Inc. reported solid 2025 results, with annual net earnings of $1.7 billion, or $3.40 per common share, up from $3.24 in 2024 despite losses on the sales of FortisTCI and its Belize utilities.
Adjusted basic earnings per share rose to $3.53 from $3.28, driven mainly by regulated rate base growth, rebasing of costs at Central Hudson, unrealized derivative gains and favourable foreign exchange, partly offset by weaker results at UNS Energy and higher corporate costs.
Capital expenditures of $5.6 billion increased midyear rate base to $42.4 billion, a 7% rise. Fortis outlined a larger 2026‑2030 capital plan of $28.8 billion, targeting rate base of $57.9 billion by 2030 and supporting dividend growth guidance of 4‑6% annually. The company also highlighted a 38% reduction in scope 1 emissions since 2019 and reaffirmed its coal‑free 2032 and 2050 net‑zero goals.
Fortis Inc. is declaring its second quarter 2026 dividends, payable on June 1, 2026 to shareholders of record at the close of business on May 15, 2026. The common and preference share dividends are designated as eligible dividends for Canadian federal and provincial dividend tax credit purposes.
Fortis describes itself as a diversified North American regulated electric and gas utility company with 2024 revenue of $12 billion and total assets of $75 billion as at September 30, 2025. Its 9,600 employees serve customers across five Canadian provinces, ten U.S. states and the Caribbean, and its shares trade on both the TSX and NYSE under the symbol FTS.