Fortis Inc. Common Shares - FTS STOCK NEWS

UniSource Energy Services is set to issue an All-Source Request for Proposals (ASRFP) on April 19, 2022, to enhance its renewable energy generation and energy storage systems. Proposals are due by July 1, 2022. This initiative is part of UniSource’s 2020 Integrated Resource Plan, which aims to provide 50% of its energy from renewable sources by 2035. The ASRFP seeks up to 170 MW of renewable resources and 150 MW of firm capacity resources, targeting projects to begin operation by May 1, 2024. This move reflects a growing demand for energy and a commitment to a cleaner energy grid.

Archaea Energy Inc. (NYSE: LFG) announced preliminary Q4 2021 results, reporting revenue of $58.4 million and net income of $3.7 million. Pro forma revenue for the full year reached $205.8 million, with a net loss of $77.4 million. Adjusted EBITDA was $16.4 million for Q4 and $76.1 million for the full year, exceeding guidance metrics. The company achieved significant milestones, including the operation of its Assai RNG facility and long-term agreements with NW Natural (NYSE: NWN) and FortisBC (NYSE: FTS). 2022 guidance includes RNG production of 11.1–11.7 million MMBtu and Adjusted EBITDA of $125–145 million.

Fortis Inc. (TSX/NYSE: FTS) has released its inaugural TCFD and Climate Assessment Report, advancing its commitment to climate-related financial disclosures. The report outlines analyses of climate scenarios, detailing risk management processes and a 20% reduction in Scope 1 emissions towards a 75% target by 2035. Key findings highlight the need for regulatory advancements, innovation in energy solutions, and a focus on customer affordability as climate change impacts operations. Fortis aims to ensure reliable service while transitioning to a sustainable, low-carbon economy.

Fortis Inc. has filed its audited Consolidated Financial Statements for the year ended December 31, 2021, disclosing revenue of $9.4 billion and total assets of $58 billion. The filings include the Management Discussion and Analysis and Form 40-F with regulatory authorities. The Management Information Circular for the upcoming Annual and Special Meeting of Shareholders is expected to be available in late March. Fortis operates as a leader in the regulated electric and gas utility sector, serving customers across five Canadian provinces, nine U.S. states, and three Caribbean countries.

Fortis Inc. reported strong financial results for 2021, with net earnings of $1,231 million ($2.61 per share), up from $1,209 million ($2.60 per share) in 2020. The company invested $3.6 billion in capital expenditures, including $600 million in cleaner energy initiatives, and achieved a 20% reduction in Scope 1 emissions. Despite negative impacts from foreign exchange and higher operating costs, Fortis plans to invest $20 billion from 2022-2026 for continued growth, aiming for 6% annual dividend increases through 2025 while focusing on sustainability and energy transition.

The Board of Directors of Fortis has declared various dividends totaling $0.3063, $0.2745625, $0.11469, $0.123948, $0.2969, $0.2455625, $0.2445625 per share on different First Preference Shares, payable on June 1, 2022. Additionally, a dividend of $0.535 per Common Share will also be paid on the same date. All shareholders of record by May 17, 2022, will be eligible. Fortis designates these dividends as eligible for federal and provincial dividend tax credits.

Fortis Inc. (TSX/NYSE: FTS) will release its 2021 annual financial results on February 11, 2022. The teleconference at 8:30 a.m. (Eastern) will feature David Hutchens, CEO, and Jocelyn Perry, CFO, discussing the results. Participants can join by calling 1.833.968.2272 (North America) or 236.714.2970 (International) and should dial in 10 minutes early. An archived audio webcast will be available on Fortis' website. As of September 30, 2021, Fortis reported 2020 revenue of $8.9 billion and total assets of $57 billion, serving customers across North America and in the Caribbean.

Archaea Energy Inc. (NYSE: LFG) has announced an expanded long-term partnership with FortisBC Energy Inc. (NYSE: FTS) to supply up to 8 million gigajoules (approximately 7.6 million MMBtu) of renewable natural gas (RNG) annually, starting in 2022 and scaling to full capacity by 2025. This agreement, pending regulatory approval, marks Archaea’s largest RNG supply contract to date and supports FortisBC's goal of 15% renewable natural gas by 2030. Archaea aims to leverage its extensive RNG project portfolio to meet growing demand for low-carbon energy solutions.

Fortis Inc. will announce its 2021 annual financial results on February 11, 2022, with a teleconference at 8:30 a.m. (Eastern). CEO David Hutchens and CFO Jocelyn Perry will lead the discussion. Interested parties can join via phone or listen to a live webcast on Fortis' website. A replay will be available thereafter until March 11, 2022. Fortis is a significant player in North America's regulated utility sector, reporting 2020 revenue of $8.9 billion and possessing total assets of $57 billion as of September 30, 2021.