Fortis Inc
XBER:12F
Fortis Inc
Fortis Inc. has quietly become a formidable entity in the North American utility landscape, intertwining its legacy with the very infrastructure that powers homes and businesses across the continent. Headquartered in St. John's, Newfoundland and Labrador, this energy titan traces its origins to 1885 with the foundation of the St. John's Electric Company. Through a series of strategic acquisitions and developments, Fortis expanded its reach, becoming a linchpin in the electric and gas utility sectors. Today, it holds a vast portfolio of utility operations, stretching from British Columbia through the Caribbean, with significant footprints in the United States through subsidiaries like ITC Holdings Corp. and UNS Energy. This wide geographical presence not only provides Fortis with revenue stability and diverse income channels but also places it in a prime position to reinvest in renewable energy and smart grid technologies.
The company's financial engine runs on the dependable streams of regulated utility earnings, a model that offers protection against economic fluctuations. By owning and operating electric and gas utilities serving millions of customers, Fortis ensures a steady cash flow through rate-regulated returns. Investments in infrastructure, such as upgraded transmission lines and electric grids, are balanced with customer demand and regulatory frameworks. Fortis's strategic approach focuses on delivering reliable energy services while pursuing growth opportunities that allow the company to sustainably increase shareholder value. As the world pivots toward cleaner energy solutions, Fortis continues to seek enhancements that not only optimize operational efficiencies but also reinforce its commitment to innovation and sustainability in the utility sector.
Fortis Inc. has quietly become a formidable entity in the North American utility landscape, intertwining its legacy with the very infrastructure that powers homes and businesses across the continent. Headquartered in St. John's, Newfoundland and Labrador, this energy titan traces its origins to 1885 with the foundation of the St. John's Electric Company. Through a series of strategic acquisitions and developments, Fortis expanded its reach, becoming a linchpin in the electric and gas utility sectors. Today, it holds a vast portfolio of utility operations, stretching from British Columbia through the Caribbean, with significant footprints in the United States through subsidiaries like ITC Holdings Corp. and UNS Energy. This wide geographical presence not only provides Fortis with revenue stability and diverse income channels but also places it in a prime position to reinvest in renewable energy and smart grid technologies.
The company's financial engine runs on the dependable streams of regulated utility earnings, a model that offers protection against economic fluctuations. By owning and operating electric and gas utilities serving millions of customers, Fortis ensures a steady cash flow through rate-regulated returns. Investments in infrastructure, such as upgraded transmission lines and electric grids, are balanced with customer demand and regulatory frameworks. Fortis's strategic approach focuses on delivering reliable energy services while pursuing growth opportunities that allow the company to sustainably increase shareholder value. As the world pivots toward cleaner energy solutions, Fortis continues to seek enhancements that not only optimize operational efficiencies but also reinforce its commitment to innovation and sustainability in the utility sector.
Strong EPS & Rate Base Growth: Fortis reported earnings per share of $3.40 for 2025, up $0.16 from 2024, with adjusted EPS up $0.25, driven by solid rate base growth across its utilities.
Dividend Track Record: The company increased its dividend per common share by 4% in 2025, marking 52 consecutive years of dividend increases and reaffirmed 4% to 6% annual dividend growth guidance through 2030.
Capital Investment: Fortis invested $5.6 billion in capital in 2025 and launched its largest-ever 5-year capital plan totaling $28.8 billion, with an expected $16 billion rate base increase and 7% average annual rate base growth.
Shareholder Returns: Fortis achieved a 1-year total shareholder return of nearly 24%, and 20-year average annual returns around 10%, outperforming benchmark indices.
Regulatory & Project Updates: Key regulatory progress was made in Arizona and British Columbia, with a major data center energy supply agreement approved, LNG expansion in BC advancing, and ongoing rate cases in Arizona.
Affordability & Reliability: Management emphasized maintaining affordability and reliability, noting controllable costs have been kept at or below inflation with ongoing investments in efficiency, technology, and customer programs.
Credit & Liquidity: Fortis maintained strong investment grade ratings, with $2.7 billion long-term debt issued, $4 billion in available credit, and its $500 million ATM program unused.
