Fortis is a regulated utility that focuses on electricity and natural gas distribution. Based in St. John’s, Newfoundland and Labrador, it has operations in Canada, the US, and the Caribbean. The company had $73 billion in assets at the end of 2024. It has about 9,700 employees.
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The corporation recently reported second-quarter net earnings attributable to shareholders of $384 million ($0.76 per share). That represented an increase of $53 million ($0.09 per share) compared with the second quarter of 2024. The increase was driven by rate base growth across its utilities, including earnings associated with FortisBC Energy’s investment in the Eagle Mountain Pipeline project, as well as higher earnings at Central Hudson due to the reset of revenue requirement effective July 1, 2024, and the timing of operating expenses in 2025. The higher US dollar-to-Canadian dollar exchange rate also favourably impacted results. - Gordon Pape
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FTS was first recommended here on August 15, 2005