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 ...

ST. JOHN'S, Newfoundland and Labrador, Dec. 23, 2024 (GLOBE NEWSWIRE) -- This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated December 9, 2024 to Fortis' short form base shelf prospectus dated December 9, 2024. Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) today announced changes to its Board of Directors. The Board has accepted Ms. Lisa Crutchfield’s resignation as a director of the Corporation effective December 31, 2024, and ...

You might not hear much about utilities unless your power goes out. But I've been watching Fortis Inc. (NYSE: FTS ), (TSX: FTS:CA ), and I think there's more to this story than just keeping the lights on.Rick is a Wall Street Journal best-selling author with over 20 years of experience trading stocks and options. The most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News, cover his work. His passion is business, and ...