06:59 AM EDT, 07/31/2024 (MT Newswires) -- Fortis ( FTS ) on Wednesday reported higher second-quarter adjusted net earnings, driven by strong earnings in Arizona and higher retail electricity sales due to warm weather.

Second-quarter adjusted net earnings came in at $331 million, or $0.67 per share, up from $302 million, or $0.62 per share. Rate base growth across Fortis' ( FTS ) utilities also contributed to earnings growth.

Capital expenditures were $2.3 billion in the first half of 2024. The company said its $4.8 billion annual capital plan remains on track.

The company also released its 2024 sustainability report, saying it has reduced direct greenhouse gas emissions by 33% through 2023 compared to 2019 levels. Fortis ( FTS ) aims to reduce greenhouse gas emissions 50% by 2030 and 75% by 2035 and to reach net-zero direct greenhouse gas emissions by 2050.