Core Points - Fortis Inc. filed its audited Consolidated Financial Statements and related documents for the year ended December 31, 2024, with Canadian and U.S. regulatory authorities [2] - The Corporation reported a revenue of $12 billion and total assets of $73 billion as of December 31, 2024 [4] - Fortis serves utility customers across five Canadian provinces, ten U.S. states, and three Caribbean countries [4] Company Information - Fortis is a leader in the North American regulated electric and gas utility industry [4] - The Corporation employs approximately 9,800 individuals [4] - Fortis shares are traded on the TSX and NYSE under the symbol FTS [4] Upcoming Events - The Management Information Circular for the upcoming Annual Meeting of Shareholders is expected to be available in late March [3]

Financial Performance - Fortis reported net earnings of $1.6 billion, or $3.24 per common share for 2024, representing a 6.7% increase in earnings per share compared to $3.10 in 2023[3] - Adjusted net earnings for 2024 were $1.6 billion, or $3.28 per common share, reflecting a 6% growth from $3.09 per common share in 2023[5][7] - The fourth quarter of 2024 saw net earnings of $396 million, or $0.79 per common share, a slight increase from $381 million, or $0.78 per common share in Q4 2023[4][18] - The company’s total assets reached $73 billion as of December 31, 2024, with revenue of $12 billion for the year[21] Capital Expenditure and Growth - The company executed a capital program of $5.2 billion in 2024, resulting in a 6% annual rate base growth, increasing the midyear rate base to $39.0 billion[2][8] - Fortis' five-year capital plan of $26 billion is expected to increase the midyear rate base to $53.0 billion by 2029, translating into a compound annual growth rate of 6.5%[9][15] - Fortis anticipates capital expenditures of $X billion for the period from 2025 to 2029, with expected funding sources including common equity proceeds[22] - The company projects a rate base growth through 2029, which is expected to drive earnings supporting a dividend growth guidance of 4-6% annually[22] Dividend Guidance - The company anticipates annual dividend growth guidance of 4-6% through 2029, supported by long-term growth in rate base[2][16] Environmental Initiatives - Fortis has reduced its corporate-wide direct greenhouse gas emissions by 34% from a 2019 base year, with targets to further reduce emissions by 50% by 2030[17] - Fortis has set a target for net-zero direct GHG emissions by 2050, with interim reduction targets for 2030 and 2035[22] Regulatory and Operational Developments - The Arizona Corporation Commission approved a formula rate plan expected to improve rate stability and reduce regulatory lag for utilities[13] - Fortis emphasizes the importance of regulatory stability and successful execution of the capital plan for achieving its forward-looking goals[23] - The corporation plans to expand the electric transmission grid in the U.S. to support load growth and facilitate cleaner energy interconnections[22] Upcoming Events - A teleconference to discuss the 2024 annual results is scheduled for February 14, 2025, at 8:30 a.m. (Eastern)[24] - Shareholders and analysts can participate in the teleconference via a live webcast on the corporation's website[25] - An archived audio webcast of the teleconference will be available for two hours after the call until March 14, 2025[27] - Additional information can be accessed through the corporation's Management Discussion and Analysis and Consolidated Financial Statements[28]

Core Insights - Fortis Inc. reported strong financial performance for 2024, with net earnings of $1.6 billion, or $3.24 per common share, reflecting a growth from $1.5 billion, or $3.10 per common share in 2023 [4][6][8] - The company executed a $5.2 billion capital program and is focused on a $26 billion five-year capital plan aimed at supporting annual dividend growth guidance of 4-6% through 2029 [3][10][16] Financial Performance - Net earnings for the fourth quarter of 2024 were $396 million, or $0.79 per common share, compared to $381 million, or $0.78 per common share in the same period of 2023, driven by rate base growth and new customer rates [5][8] - Adjusted net earnings for 2024 were $1.6 billion, or $3.28 per common share, representing a 6% increase from $3.09 in 2023 [6][8] - Capital expenditures for 2024 totaled $5.2 billion, contributing to a 6% annual rate base growth, increasing the midyear rate base to $39 billion [9][10] Capital Expenditures and Projects - The five-year capital plan of $26 billion is $1 billion higher than the previous plan, driven by MISO long-range transmission plan projects and customer growth investments [10][11] - Significant projects include the Eagle Mountain Pipeline, transmission reliability projects at ITC, and the completion of the Wataynikaneyap Transmission Power project, which connects 17 First Nations communities to the Ontario power grid [9][10] Regulatory Updates - In October 2024, FERC revised the base ROE for MISO transmission owners, impacting Fortis with an after-tax earnings effect of approximately $22 million [13] - The Arizona Corporation Commission approved a formula rate plan expected to improve rate stability for customers, with UNS Gas proposing an annual rate adjustment mechanism [14] Environmental Commitment - Fortis has reduced its corporate-wide direct greenhouse gas emissions by 34% from a 2019 base year, with targets to further reduce emissions by 50% by 2030 and 75% by 2035 [18]

Core Insights - Fortis Inc. reported strong financial performance for 2024, with net earnings of $1.6 billion, or $3.24 per common share, reflecting a growth from $1.5 billion, or $3.10 per common share in 2023 [4][6][22] - The company executed a $5.2 billion capital program, contributing to a 6% annual rate base growth, and is focused on a $26 billion five-year capital plan to support annual dividend growth guidance of 4-6% through 2029 [3][10][20] Financial Performance - Net earnings for the fourth quarter of 2024 were $396 million, or $0.79 per common share, compared to $381 million, or $0.78 per common share in the same period of 2023, driven by rate base growth and new customer rates [5][22] - Adjusted net earnings for 2024 were $1.6 billion, or $3.28 per common share, representing a 6% increase from $3.09 per common share in 2023 [8][22] Capital Expenditures - Capital expenditures for 2024 totaled $5.2 billion, leading to a midyear rate base of $39.0 billion, which is a 6% increase over 2023 [10][22] - The 2025-2029 capital plan is set at $26.0 billion, which is $1.0 billion higher than the previous plan, driven by MISO long-range transmission projects and customer growth investments [12][13] Regulatory Updates - In October 2024, FERC revised the base ROE for ITC's MISO utilities from 10.02% to 9.98%, impacting Fortis' after-tax earnings by approximately $22 million [15] - The Arizona Corporation Commission approved a formula rate plan policy statement in December 2024, which is expected to improve rate stability for customers [16] Environmental Commitment - Fortis has reduced its corporate-wide direct greenhouse gas emissions by 34% from a 2019 base year, with targets to further reduce emissions by 50% by 2030 and 75% by 2035 [21]

Core Points - Fortis Inc. has declared dividends payable on June 1, 2025, to shareholders of record as of May 16, 2025 [2] - The common share dividend and preference share dividends are designated as eligible dividends for federal and provincial dividend tax credit purposes [2] - Fortis reported 2023 revenue of $12 billion and total assets of $70 billion as of September 30, 2024 [3] Dividend Details - The declared dividends include $0.3063 per share on First Preference Shares, Series "F" [5] - Other preference share dividends include $0.3826875 on Series "G", $0.11469 on Series "H", $0.278016 on Series "I", $0.2969 on Series "J", $0.3418125 on Series "K", $0.3433125 on Series "M", and $0.615 on Common Shares [5] Company Overview - Fortis is a leader in the North American regulated electric and gas utility industry, serving utility customers in five Canadian provinces, ten U.S. states, and three Caribbean countries [3] - The company employs approximately 9,600 individuals [3] - Fortis shares are traded on the TSX and NYSE under the symbol FTS [3]

Wall Street expects a year-over-year increase in earnings on lower revenues when Fortis (FTS) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 14, 2025, might help the stock move higher if these key numbers are better than expect ...

ST. JOHN'S, Newfoundland and Labrador, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS) will release its 2024 financial results on Friday, February 14, 2025. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation's 2024 annual financial results. Shareholders, analysts, members of the medi ...

ST. JOHN'S, Newfoundland and Labrador, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) will release its 2024 financial results on Friday, February 14, 2025. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation's 2024 annual financial results. Shareholders, analysts, members of the med ...

Dividends can be a great way to generate income from stocks, no matter what the market is doing. But only if the companies paying the dividends are reliable. That's why Dividend Kings -- or companies that have paid and raised their dividends for at least 50 years -- are so elite.Raising a dividend even during economic downturns or specific company challenges indicates that a business is financially stable and is growing its earnings over time.Coca-Cola (KO), Kenvue (KVUE), and Fortis (FTS) are three Dividen ...

ST. JOHN'S, Newfoundland and Labrador, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) will release its 2024 financial results on Friday, February 14, 2025. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation's 2024 annual financial results. Shareholders, analysts, members of the med ...