Fortis Inc. reported second-quarter 2026 net earnings of $396 million, an increase of $26 million compared to the same period last year, with earnings per share of $0.78, up $0.02. The company invested $2.7 billion in capital expenditures through June, representing approximately half of its $5.6 billion annual plan, and reaffirmed its 7% average annual rate base growth projection through 2030, supported by a $26 billion five-year capital plan. A key development was the provincial government's approval of the $2 billion Tilbury LNG Phase 1B expansion, which is expected to begin construction in 2027 and enter service by 2031. Fortis also maintained its 4% to 6% annual dividend growth guidance through 2030, marking 52 consecutive years of dividend increases. Earnings growth was driven by rate base expansion at ITC and higher retail electricity sales at UNS Energy, partially offset by higher finance costs and regulatory lag.
Fortis IncQ2 earnings beat and reaffirmed growth guidance
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