Fortis Inc.
Capital Structure
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in mil. unless spec.Company Description
- CEO
- David G. Hutchens
- Full Time Employees
- 9,900
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- Fortis Place St. John's NF Canada A1B 3T2
- IPO Date
- Mar 17, 1980
- Website
- fortisinc.com
- Similar Companies
- Business
- Fortis Inc. is a well-diversified North American leader in the regulated electric and gas utility industry, operating nine regulated utilities across five Canadian provinces, ten U.S. states, and three Caribbean countries. Its core products and services encompass electricity and natural gas distribution; electricity transmission; gas-fired and hydroelectric power generation; and the provision of operation, maintenance, and management services for energy infrastructure. Fortis serves approximately 3.5 million electricity and gas customers with a total asset base of about $75 billion as of September 2025. The company’s utilities include significant transmission and distribution assets that represent 94% of its holdings, positioning it strongly within the regulated utility sector with a focus on delivering reliable, safe, and affordable energy solutions. Founded in 1987 and headquartered in St. John's, Newfoundland and Labrador, Fortis reported 2024 revenues of $12 billion, with net earnings of $1.6 billion, supported by a $5.2 billion capital expenditure program aimed at utility infrastructure growth. The company recently completed the Wataynikaneyap Transmission Power project, connecting 17 First Nations communities to the Ontario power grid, enhancing energy access while promoting sustainability. Fortis has approved a $26 billion five-year capital plan (2025-2029) targeting a 6.5% compound annual growth rate of rate base, including significant investments in transmission infrastructure under the Midcontinent Independent System Operator (MISO) long-range transmission plan and renewable natural gas and liquefied natural gas infrastructure in British Columbia. The company is committed to reducing its corporate-wide direct greenhouse gas emissions, targeting a 50% reduction by 2030 and net-zero emissions by 2050. Recent strategic developments include regulatory approvals for transmission projects and investments in grid resiliency and climate adaptation. Fortis raised its common share dividend by 4.2% in the fourth quarter of 2024, marking 51 consecutive years of dividend increases, signaling strong shareholder value propositions. The company also maintains flexibility in capital funding through cash from operations, regulated utility debt, and an available $500 million at-the-market equity program. Overall, Fortis leverages its diversified regulatory portfolio, sizeable infrastructure, and growth projects to support earnings growth and dividend stability through 2029 and beyond.
Company News
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Fortis Inc. to Hold Teleconference and Webcast on November 3 to Discuss Third Quarter 2026 Results and New Five-Year Capital Outlook
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Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Junior Subordinated Notes
Jupiter Topco LLC Makes New $2.25 Million Investment in Fortis $FTS
1,947,424 Shares in Fortis $FTS Bought by BlackRock Inc.
Fortis Inc. (TSE:FTS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages
Fortis Q2 Earnings Call Highlights
Fortis (FTS) Surpasses Q2 Earnings and Revenue Estimates
Fortis Inc. Releases Second Quarter 2026 Results
Fortis Inc. Announces Third Quarter Dividends – 2026
Fortis Inc. Announces Third Quarter Dividends – 2026
Fortis (FTS) Reports Next Week: What to Expect
Advisory: Fortis Inc. to Hold Teleconference and Webcast on July 31 to Discuss Second Quarter 2026 Results
Fortis Inc. to Hold Teleconference and Webcast on July 31 to Discuss Second Quarter 2026 Results
Implied Volatility Surging for Fortis Stock Options
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Fortis Q1 Earnings Call Highlights
Fortis Inc. Shareholders Approve Election of Directors, Appointment of Auditors, and Say on Pay