Fortis Full Year 2024 Earnings: Revenues Disappoint

Fortis (TSE:FTS) Full Year 2024 Results

Key Financial Results

• Revenue: CA$11.5b (flat on FY 2023).
• Net income: CA$1.68b (up 12% from FY 2023).
• Profit margin: 15% (up from 13% in FY 2023).
• EPS: CA$3.24 (up from CA$3.10 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Fortis Revenues Disappoint

Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Electric Utilities industry in North America.

Performance of the market in Canada.

The company's shares are up 2.4% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Fortis (of which 1 makes us a bit uncomfortable!) you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.