Welcome to our dedicated page for Fortis news (Ticker: FTS), a resource for investors and traders seeking the latest updates and insights on Fortis stock.
Overview of Fortis Inc.
Fortis Inc. operates as a major regulated electric and gas utility company in North America, offering dependable utility distribution and energy transmission services. With a robust portfolio of operating subsidiaries, the company delivers essential services across Canada, the United States, and select Caribbean regions. Its business model is structured around providing stable, regulated energy delivery, establishing a secure and resilient infrastructure for millions of customers.
Core Business Operations
The company owns and operates several key transmission and distribution subsidiaries that manage electric and gas networks. Through these subsidiaries, Fortis maintains an extensive infrastructure including high-voltage transmission lines and regional gas distribution systems, ensuring reliability and safety in service delivery. Additionally, Fortis holds strategic stakes in electricity generation and smaller utilities, expanding its footprint within the broader energy market.
Market Position and Competitive Landscape
Fortis Inc. holds a distinctive position in the utility market by leveraging a diversified geographic presence. Its stable regulatory framework and long-term service contracts enhance predictability in revenue generation compared to market participants in more volatile sectors. Unlike competitors that may rely on fluctuating market conditions, Fortis demonstrates a focus on regulated operations that underpin consistent performance through established infrastructure and operational prudence.
Operational Excellence and Infrastructure
At the heart of Fortis’s operations is its commitment to maintaining and expanding a resilient energy delivery network. The company oversees vast networks of high-voltage transmission and local distribution, ensuring that electric and gas services are delivered efficiently and safely. This operational excellence is supported by a strategic alignment of assets that includes diversified subsidiaries and specialized regional operations.
Regulatory Environment and Business Model
The regulated nature of Fortis’s utilities provides a framework that supports steady revenue through predictable rate structures and stringent compliance measures. Regulatory oversight ensures operational discipline, and the company has developed robust systems to manage rate cases and policy changes. This carefully balanced business model positions Fortis as a reliable service provider in the public utility sphere, emphasizing stable returns over speculative growth.
Industry Insights
- Regulated Utility Operations: Fortis relies on stable, long-term contracts and regulatory approvals to secure its market positioning.
- Energy Infrastructure: The company’s comprehensive network of transmission and distribution assets is a key enabler of its operational success.
- Geographic Diversification: By operating across Canada, the US, and the Caribbean, Fortis mitigates regional risks and leverages varied market dynamics.
The multifaceted structure of Fortis Inc. not only delivers essential utility services but also contributes significantly to the energy sector’s overall stability. The company continuously refines its operational processes to ensure adherence to high safety and service standards, embodying the depth of experience, expertise, authoritativeness, and trust that investors and industry analysts seek in a well-established utility provider.
Fortis Inc. reported third-quarter net earnings of $295 million, maintaining earnings per share at $0.63, consistent with the prior year. The company outlined a $20 billion capital investment plan for 2022-2026, poised to enhance rate base growth by 6%. A ~6% dividend increase reflects 48 consecutive years of growth, reaffirming the dividend growth guidance through 2025. Notably, year-to-date net earnings rose to $903 million, despite challenges from foreign exchange rates and cooler weather in Arizona. Fortis aims for a 75% reduction in carbon emissions by 2035.
Fortis Inc. (TSX/NYSE: FTS) will announce its third quarter 2021 financial results and a new five-year capital outlook for 2022-2026 on October 29, 2021. A teleconference at 8:30 a.m. (Eastern) will feature discussions by CEO David Hutchens and CFO Jocelyn Perry. Interested parties can participate via a toll-free number or an international line. Archived audio of the event will be available on the Fortis website. In 2020, the company reported revenues of $8.9 billion and total assets of $56 billion.
Fortis Inc. (TSX/NYSE: FTS) will announce its third quarter 2021 financial results and a new five-year capital outlook for 2022-2026 on October 29, 2021. The teleconference will begin at 8:30 a.m. Eastern, featuring CEO David Hutchens and CFO Jocelyn Perry. Interested parties can join by calling 1.877.223.4471 (North America) or 647.788.4922 (International). Fortis reported $8.9 billion in revenue for 2020, with total assets of $56 billion as of June 30, 2021, serving customers across five provinces, nine states, and three Caribbean countries.
Fortis Inc. (TSX/NYSE: FTS) announced a $0.535 common share dividend, reflecting a 6% increase, scheduled for December 1, 2021. This increase marks the company's 48 consecutive years of rising dividends, aligning with its guidance of 6% average annual growth through 2025. Preference share dividends were also declared, with payments due on the same date. Fortis, a leader in the North American utility sector, reported $8.9 billion in revenue for 2020 and assets of $56 billion as of June 30, 2021.
Fortis Inc. (TSX/NYSE: FTS) announced the retirement of Jim Laurito, Executive Vice President of Business Development and Chief Technology Officer, effective December 31, 2021. He is succeeded by Stuart Lochray as Senior Vice President, Capital Markets and Business Development, starting September 8, 2021. David Hutchens, President and CEO, recognized Laurito's contribution and welcomed Lochray, noting his 18 years of experience in finance and investment banking, particularly in the power and utilities sector. Fortis reported revenue of $8.9 billion in 2020 and possesses total assets of $56 billion.
The Board of Directors of Fortis has declared dividends on its preference and common shares, all payable on September 1, 2021. The dividend amounts include $0.3063 per share for Series 'F', $0.2745625 for Series 'G', $0.11469 for Series 'H', $0.097734 for Series 'I', $0.2969 for Series 'J', $0.2455625 for Series 'K', $0.2445625 for Series 'M', and $0.505 for Common Shares. Shareholders of record as of August 19, 2021, will receive these dividends, designated as eligible for federal and provincial dividend tax credits.
Fortis Inc. (TSX/NYSE: FTS) will release its second quarter 2021 financial results on July 29, 2021, alongside its 2021 Sustainability Update Report. A teleconference is scheduled for the same day at 8:30 a.m. Eastern, featuring David Hutchens, President and CEO, and Jocelyn Perry, CFO, discussing the results. Stakeholders can join via a dedicated phone line or through a live webcast on the company's website. Fortis reported $8.9 billion in revenue for 2020 and has total assets of $56 billion as of March 31, 2021, serving customers across five Canadian provinces and nine U.S. states.
Fortis Inc. (TSX/NYSE: FTS) is set to release its second quarter 2021 financial results and Sustainability Update Report on July 29, 2021. A teleconference will occur at 8:30 a.m. Eastern, led by CEO David Hutchens and CFO Jocelyn Perry. Interested parties can join by calling 1.877.223.4471 or 647.788.4922 for international participants. The live audio webcast will also be available on Fortis' website. For 2020, the company reported revenues of $8.9 billion and total assets of $56 billion as of March 31, 2021, with 9,000 employees serving customers across North America and the Caribbean.
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