06:24 AM EST, 11/04/2025 (MT Newswires) -- Fortis ( FTS ) on Tuesday reported an increase in third-quarter adjusted net earnings year over year as it beat consensus estimates on a per-share basis.

Adjusted net earnings came in at C$441 million, or $0.87 per share, rising from $420 million, or $0.85 per share. The results beat the third-quarter consensus estimate of $0.85 per share as compiled by FactSet.

The company also raised its 2026-2030 capital plan by $2.8 billion to $28.8 billion. The capital plan is expected to increase Fortis' ( FTS ) midyear rate base to $57.9 billion by 2030 from $41.9 billion in 2025, representing an annual growth rate of 7%.

The capital plan increase is driven by higher transmission investments at ITC and customer growth and reliability investments across Fortis' ( FTS ) utilities.

Fortis ( FTS ) said it expects its long-term growth in rate base to drive earnings that support dividend growth guidance of 4-6% annually through 2030.

The company also boosted its fourth-quarter common share dividend by 4.1% to $0.64 per share.