Fortis Q3 Net Earnings Rise to C$474 Million: Five-Year Capital Plan Lifted to C$32.2 Billion, Dividend Raised 4%
ST. JOHN'S, Newfoundland and Labrador — Fortis Inc. on Nov. 3 reported third-quarter 2026 net earnings attributable to common equity shareholders of C$474 million, or C$0.92 per common share, up from C$0.81 per share a year earlier. Adjusted net earnings per share were also C$0.92, compared with C$0.87 in the third quarter of 2025. Figures are in Canadian dollars unless otherwise noted.
Fortis also released its new 2027-2031 capital plan totaling C$32.2 billion, C$3.4 billion higher than the previous five-year plan and supporting 7.5 percent compound annual rate base growth. The increase is driven mainly by FERC-regulated transmission investments at its ITC subsidiary under the Midcontinent Independent System Operator long-range transmission plan, including a competitive project in Iowa totaling US$1.0 billion awarded to ITC in October 2026, of which US$0.5 billion is reflected in the new plan.
Capital expenditures reached C$4.2 billion through September, and 2026 capital investment is now expected at about C$6.0 billion, up from C$5.6 billion previously anticipated, largely on acceleration of MISO transmission projects and the Tilbury liquefied natural gas projects at FortisBC Energy.
The board raised the fourth-quarter common share dividend by 4 percent to C$0.665 per share, payable Dec. 1, 2026 to shareholders of record on Nov. 17, and extended annual dividend growth guidance of 4 to 6 percent through 2031. President and Chief Executive Officer David Hutchens said the new C$32.2 billion plan is the largest in Fortis history and reflects the critical investments required to deliver safe, reliable and resilient energy service.
Fortis is a diversified leader in the North American regulated electric and gas utility industry, with 2025 revenue of C$12 billion and total assets of C$82 billion, operating utilities including ITC, UNS Energy (Tucson Electric Power) and Central Hudson in the United States and FortisBC in Canada.
Source: Fortis Inc
Published by GSM · USA (original Chinese edition)
Photo: 图：加拿大 St. John's 港与海峡入口（Fortis 总部所在地）。照片：Ryan Hodnett，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: St. John's Harbour and the Narrows in St. John's, Canada, where Fortis is headquartered. Photo by Ryan Hodnett, CC BY-SA 4.0, via Wikimedia Commons.
