- FTS
- FTS
Key Points
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Fortis reported Q3 2026 earnings of C$474 million, or C$0.92 per share, with adjusted EPS up C$0.05 year over year. It declared a C$0.665 quarterly dividend, a 4% increase, and extended its 4%–6% annual dividend-growth outlook through 2031.
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The company unveiled a C$32.2 billion five-year capital plan, entirely focused on regulated projects and weighted toward transmission, distribution and critical infrastructure. Fortis expects rate base to grow at a 7.5% compound annual rate through 2031, reaching about C$64 billion.
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Major investment opportunities include ITC transmission projects and FortisBC’s LNG expansions; potential data-center and industrial demand could add further growth beyond the base plan. Fortis expects to fund investments mainly through operating cash flow and utility debt, with some additional ATM equity issuance planned.
Fortis (NYSE:FTS) reported third-quarter 2026 earnings of C$474 million, or C$0.92 per common share, while unveiling a C$32.2 billion five-year capital plan centered on regulated transmission, distribution and LNG infrastructure investments.
The company said the new plan is C$3.4 billion larger than its previous five-year outlook and is expected to support a 7.5% compound annual growth rate in rate base through 2031. Fortis also extended its annual dividend-growth guidance of 4% to 6% through 2031 and declared a fourth-quarter dividend of C$0.665 per share, a 4% increase.
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“This past quarter has been one of the busiest and most positive I can remember during my tenure as CEO,” President and CEO David Hutchens said. Fortis invested C$4.2 billion year to date and expects to invest about C$6 billion during 2026, C$400 million above its prior annual plan.
Quarterly earnings and operating drivers
Reported earnings totaled C$1.4 billion, or C$2.69 per share, for the first nine months of 2026. Chief Financial Officer Jocelyn Perry said adjusted third-quarter earnings per share increased C$0.05 from the prior year after excluding 2025 income taxes and closing costs tied to the disposition of FortisTCI.
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ITC contributed C$0.03 of quarterly EPS growth, primarily from rate-base expansion and lower stock-based compensation expense, partly offset by higher financing costs. Fortis’ U.S. electric and gas operations contributed an additional C$0.02 per share, with UNS Energy benefiting from higher residential and industrial electricity sales, customer growth, timing of operating costs and lower income taxes associated with investment tax credits on a battery storage project.
