Fortis Q4 Profit Rises, Tops Estimates

RTTNews | 912 days ago
Stocktwits
Fortis Q4 Profit Rises, Tops Estimates

(RTTNews) - Electric and gas utility Fortis Inc. (FTS, FTS.TO) reported fourth quarter net earnings attributable to common equity shareholders of C$370 million or C$0.77 per share, up from C$328 million or C$0.63 per share in the prior-year quarter.

On an adjusted basis, net earnings attributable to common equity shareholders were C$347 million or C$0.72 per share, compared to C$300 million or C$0.63 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of C$0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Fortis expects its long-term growth in rate base will drive earnings that support dividend growth guidance of 4-6% annually through 2027.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: FTS.TO
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