Fortis Reports Q3 2026 Earnings Growth and Increases Five-Year Capital Plan
Fortis (FTS) reported strong third-quarter 2026 results, with net earnings rising to $474 million ($0.92 per common share) compared to $409 million in the prior year. This growth was primarily driven by rate base expansion across its utility segments. The company also announced a significant increase in its five-year capital plan for 2027–2031, raising the outlook to $32.2 billion, which is $3.4 billion higher than previous projections. The company continues its long-standing commitment to shareholders, announcing a 4% increase in common share dividends, marking 53 consecutive years of growth. Management highlighted robust project pipelines, including ITC Holdings' transmission investments and FortisBC's LNG expansion projects. Despite some regulatory lag affecting UNS Energy earnings, the company maintains a target FFO-to-debt ratio of 12% to support its investment-grade credit ratings.
Tickers: $FTS
Topics: Adjusted EPS Capital Expenditure Plan Dividend Increase Net Earnings Rate Base Growth
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