Fortis Inc. (FTS) reported third-quarter 2026 results and introduced a 2027–2031 capital plan of $32.2 billion. All dollar amounts are Canadian unless marked US$. Revenue was $3.115 billion versus $2.938 billion a year earlier; common-equity earnings were $474 million versus $409 million, and operating cash flow was $1.301 billion versus $1.027 billion. Excluding $32 million of 2025 income taxes and closing costs associated with the FortisTCI disposition, common-equity earnings increased $33 million. Nine-month revenue was $9.449 billion and common-equity earnings were $1.371 billion.
The capital plan is $3.4 billion above the previous five-year plan, while 2026 capital expenditures are expected to be approximately $6.0 billion. Fortis projects midyear rate base of $45.3 billion in 2026 and $63.9 billion in 2031, a 7.5% five-year compound annual growth rate, and targets annual dividend growth of 4%–6% through 2031. The plan is expected to be funded primarily by operating cash flow and regulated utility debt, with common equity predominantly supported by its dividend reinvestment plan. In the third quarter, Fortis issued US$1.0 billion of junior subordinated notes and approximately $260 million of common shares through its at-the-market program. The declared fourth-quarter common dividend is $0.665 per share, up 4%, payable December 1, 2026, to shareholders of record November 17, 2026.
Fortis Inc. was the issuer for which Vanguard Capital Management reported beneficial ownership of 25,935,688 common shares, equal to 5.07% of the class, as of September 30, 2026. Vanguard reported sole voting power over 10,402,036 shares and sole dispositive power over 25,935,688 shares, with no shared voting or dispositive power. The reported position includes securities held by Vanguard funds and client accounts over which the specified Vanguard units exercise voting and/or dispositive power.
Fortis Inc. will release its third-quarter 2026 results and five-year capital outlook for 2027–2031 on November 3, 2026. A teleconference and webcast will take place that day at 8:30 a.m. Eastern, with President and Chief Executive Officer David Hutchens and Executive Vice President and Chief Financial Officer Jocelyn Perry discussing the results and outlook.
A live and archived audio webcast will be available on Fortis’s website. A replay will be available two hours after the call ends through December 3, 2026.
Fortis Inc. (FTS) has executed two supplemental indentures establishing long-dated junior subordinated debt securities under its 2016 base indenture. The Second Supplemental Indenture creates $500 million of 6.625% fixed-to-fixed rate junior subordinated notes due March 30, 2057, issued in global form through DTC.
These notes pay 6.625% annually from September 21, 2026 until March 30, 2032, then reset every five years to the 5-Year Treasury Rate + 2.016%, with a floor at 6.625%. Fortis can defer interest for up to 10 consecutive years per deferral period, with deferred interest compounding, and a dividend stopper restricts dividends and pari passu payments while interest is unpaid. The notes are subordinated to all senior indebtedness and structurally subordinated to subsidiary obligations, and may be redeemed at par from December 31, 2031 (and later reset or payment dates), at par following a Tax Event, or at 102% following a Rating Event.
The Third Supplemental Indenture similarly establishes another $500 million series of 6.875% fixed-to-fixed rate junior subordinated notes due March 30, 2057, with an initial interest rate of 6.875% and an initial reset date on March 30, 2037, using the same 5-Year Treasury Rate mechanism and subordination framework.
Fortis Inc. (FTS) entered into an underwriting agreement to issue two series of long-dated junior subordinated notes, each in the principal amount of US$500,000,000, under its Canadian and U.S. shelf prospectus framework. One series bears interest at 6.625% and the other at 6.875%, both due in 2057.
The notes are being sold to a syndicate of underwriters led by Morgan Stanley, MUFG Securities Americas, Wells Fargo Securities and BofA Securities at 100.000% of principal, with a 1.000% underwriting fee to the underwriters. Closing and funding are scheduled for September 21, 2026, with net proceeds to be used as described under “Use of Proceeds” in Fortis’s Canadian and U.S. final prospectuses and related offering materials.
Fortis Inc. reported solid second quarter 2026 results, with net earnings attributable to common equity shareholders of $396 million and basic earnings per share of $0.78, up from $0.76 a year earlier. Revenue rose to $2,931 million, supported mainly by Rate Base growth and higher retail electricity sales at UNS Energy.
For the first half of 2026, net earnings attributable to common equity shareholders were $897 million, with EPS of $1.76, unchanged from 2025, while operating cash flow increased to $2,232 million. Capital expenditures were $2.7 billion in the first six months, tracking a $5.6 billion annual plan, and total assets reached $78.8 billion at June 30, 2026.
Growth visibility remains anchored by a $28.8 billion five-year capital plan expected to increase midyear Rate Base from $42.4 billion in 2025 to $57.9 billion by 2030, a 7% compound annual growth rate. Fortis maintains dividend growth guidance of 4–6% annually through 2030. The Province of British Columbia approved the Phase 1B expansion of FortisBC Energy’s Tilbury LNG Facility with a cost allowance of up to $2.2 billion, expanding potential investment beyond the current plan. Credit ratings from S&P and Fitch were confirmed with stable outlooks, and by 2025 the company had achieved a 38% reduction in scope 1 greenhouse gas emissions versus 2019.
Fortis Inc. will release its second quarter 2026 financial results on July 31, 2026, followed by a teleconference and webcast at 8:30 a.m. Eastern. The call is accessible via live webcast on the company’s website and by toll-free phone in Canada and the U.S. at 1.833.821.0229, with an international line at 1.647.846.2371.
A replay will be available by phone until August 31, 2026 and as an archived audio webcast online. Fortis describes itself as a diversified North American regulated electric and gas utility leader, with 2025 revenue of $12 billion and $77 billion in total assets as at March 31, 2026, serving customers across Canada, the U.S. and the Cayman Islands.
Fortis Inc. has entered into a Fourth Amending Agreement to its Fourth Amended and Restated Credit Agreement with a syndicate of Canadian and international banks. The amendment extends the revolving term credit facility’s Maturity Date to July 31, 2031 and keeps the existing agreement otherwise in full force.
On execution of the amendment, Fortis must pay the Agent, for the account of the Lenders, an extension fee of 3.5 basis points per annum on each Lender’s Individual Commitment. This fee is calculated over the period between the prior Maturity Date and the new Maturity Date, is due in full at signing, and is non‑refundable and fully earned when due.