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 released its first quarter results for 2021, showcasing a net earnings increase to $355 million or $0.76 per share, compared to $312 million in 2020. Adjusted net earnings rose to $360 million or $0.77 per share, up from $315 million. The corporation's capital expenditures amounted to $0.9 billion, part of a $3.8 billion annual plan. Credit ratings were affirmed by S&P and upgraded by DBRS. The Oso Grande Wind Project was completed, and the outlook for Fortis remains positive with a 6% dividend growth guidance.
Fortis Inc. (TSX/NYSE: FTS) will release its first quarter 2021 financial results on May 5, 2021, with a teleconference scheduled at 8:30 a.m. (Eastern). Key executives, including President David Hutchens, will discuss the results. Interested parties can join via a dedicated phone line. An archived audio webcast will be available on the company's website. Additionally, the Annual Meeting of Shareholders is set for May 6, 2021, at 9:00 a.m. (Eastern). Fortis reported a 2020 revenue of $8.9 billion and total assets of $55 billion as of December 31, 2020, serving customers in multiple regions.
Fortis Inc. (TSX/NYSE: FTS) will announce its first quarter 2021 financial results on May 5, 2021, at 8:30 a.m. (Eastern). The teleconference will feature CEO David Hutchens and CFO Jocelyn Perry discussing the results. Participants can join via phone or view the live webcast on the Fortis website. Additionally, the Annual Meeting of Shareholders will occur online on May 6, 2021, at 9:00 a.m. (Eastern). Fortis reported revenues of $8.9 billion and total assets of $55 billion as of December 31, 2020, serving customers across North America and the Caribbean.
Fortis Inc. (TSX/NYSE: FTS) has filed its audited Consolidated Financial Statements and Management Discussion for the year ending December 31, 2020. The Corporation reported revenue of $8.9 billion and total assets of approximately $55 billion as of year-end. These filings are available on SEDAR and SEC. Fortis serves utility customers across five Canadian provinces, nine U.S. states, and three Caribbean countries, with a workforce of 9,000 employees.
Fortis Inc. (FTS) reported its 2020 financial results with net earnings of $1,209 million ($2.60 per share), down from $1,655 million in 2019. Adjusted net earnings increased to $1,195 million ($2.57 per share) amid an 8.2% rise in rate base and higher retail sales in Arizona. Capital expenditures reached a record $4.2 billion, and a new emissions reduction target of 75% by 2035 was established. Despite COVID-19 challenges, the company anticipates continued growth, projecting a rate base increase to $36.4 billion by 2023, supporting earnings and dividend growth of around 6% annually through 2025.
Fortis Inc. (TSX/NYSE: FTS) announced dividends for its shareholders, effective June 1, 2021. The dividends include:
- $0.3063 on Series 'F'
- $0.2745625 on Series 'G'
- $0.11469 on Series 'H'
- $0.094899 on Series 'I'
- $0.2969 on Series 'J'
- $0.2455625 on Series 'K'
- $0.2445625 on Series 'M'
- $0.505 on Common Shares
All dividends are payable to shareholders of record as of May 17, 2021. The dividends are designated as eligible for tax credit purposes.
Fortis Inc. (TSX/NYSE: FTS) will release its 2020 annual financial results on February 12, 2021. A teleconference, led by CEO David Hutchens and CFO Jocelyn Perry, will take place at 8:30 a.m. EST to discuss these results. Participants can join by calling 1.877.223.4471 (North America) or 647.788.4922 (International). An audio webcast will also be available on the Fortis website, with a replay accessible until March 14, 2021. Fortis generated $8.8 billion in revenue in 2019 and has total assets of $56 billion as of September 30, 2020.
Fortis Inc. (TSX/NYSE: FTS) will announce its 2020 annual financial results on February 12, 2021. A teleconference will occur at 8:30 a.m. (Eastern) with CEO David Hutchens and CFO Jocelyn Perry discussing the results. Interested parties can join by calling 1.877.223.4471 (North America) or 647.788.4922 (International). The event will also be available via a live and archived audio webcast on the Fortis website. In 2019, Fortis reported revenue of $8.8 billion, serving customers across five Canadian provinces, nine U.S. states, and three Caribbean countries.
Fortis Inc. announces the Arizona Corporation Commission has approved new rates for Tucson Electric Power's general rate application, effective January 1, 2021. The approved rate base is US$2.7 billion, with US$1.2 billion invested since the last rate order. The allowed return on equity is now 9.15%, down from 9.75%. TEP is focused on upgrading its systems to accommodate population growth and customer needs while transitioning to renewable energy resources.
Fortis Inc. has declared dividends for its preference and common shares, payable on March 1, 2021. The dividends include $0.3063 for Series 'F', $0.2745625 for Series 'G', $0.11469 for Series 'H', $0.094685 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 by February 16, 2021, will receive these dividends, which are eligible for federal and provincial tax credits. Fortis reported a revenue of $8.8 billion in 2019 and operates across multiple regions.
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