Overview

* Fortis ( FTS ) Q3 adjusted EPS beats analyst expectations, rising to C$0.87 from C$0.85

* Company reports Q3 net earnings of C$409 mln, down from C$420 mln in 2024

* Fortis ( FTS ) unveils C$28.8 bln capital plan, C$2.8 bln higher than previous plan

Outlook

* Fortis ( FTS ) plans C$28.8 bln capital investment from 2026-2030, up C$2.8 bln from prior plan

* Maintains 4-6% annual dividend growth guidance through 2030

Result Drivers

* RATE BASE GROWTH - Increase in adjusted net earnings attributed to rate base growth across utilities and favorable currency exchange rates

* CAPITAL PLAN EXPANSION - New $28.8 bln capital plan driven by higher transmission investments and customer growth

* ASSET DISPOSITION - Sale of FortisTCI and Belize assets to strengthen balance sheet and fund growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat C$0.87 C$0.86

Adjusted (8

EPS Analysts

)

Q3 EPS C$0.81

Q3 C$441

Adjusted mln

Net

Income

Q3 Net C$409

Earnings mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 8 "hold" and 4 "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy."

* Wall Street's median 12-month price target for Fortis Inc ( FTS ) is C$72.00, about 2.8% above its November 3 closing price of C$69.99

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)