Fortis Future Growth

Future criteria checks 1/6

Fortis is forecast to grow earnings and revenue by 6.6% and 3.7% per annum respectively. EPS is expected to grow by 4.9% per annum. Return on equity is forecast to be 7.8% in 3 years.

Key information

6.6%

Earnings growth rate

4.9%

EPS growth rate

Electric Utilities earnings growth	9.2%
Revenue growth rate	3.7%
Future return on equity	7.8%
Analyst coverage	Good
Last updated	25 Apr 2024

Recent future growth updates

Recent updates

Fortis: 8-9% Yielding Preferred Shares Offer A Lower Risk Prospect Vs. Common Shares

Aug 23

Fortis: A Stable High-Yielding Utility That Is Too Expensive

Jun 06

Fortis Q4 Earnings Preview

Feb 09

Fortis: A Dividend King In The Making

Jan 17

Fortis Warrants A Valuation Update After A 14% Drop - Close To A 'Buy'

Nov 08

Fortis Q3 2022 Earnings Preview

Oct 27

Fortis raises dividend 5.6% to CAD 0.565/share

Sep 28

Fortis subsidiary launches senior notes offering

Sep 08

Fortis: Completion Of Energy Projects Will Likely Push The Price Up

Aug 29

Fortis declares CAD 0.535 dividend

Jul 28

Fortis: Strong Renewable Ambitions And Financials But Appears Overpriced

May 24

Fortis: I Remain At 'Hold', But There Is A Potential Upside At 18X P/E

Mar 01

Fortis: A Solid Dividend Investment

Oct 18

Fortis Is A Dividend Grower With More Upside

Jul 17

Fortis Q1 2021 Earnings Preview

May 04

Fortis Is A Fantastic Investment - But Not Now

Apr 30

Fortis (FTS) Presents At 2020 Wells Fargo Midstream and Utility Symposium Conference - Slideshow

Dec 15

Fortis (FTS) Presents At Wolfe Research Meetings: EEI 55th Financial Virtual Conference - Slideshow

Nov 22

Dividend Watch: Fortis Is A Top Income Stock

Nov 19

Fortis Q3 2020 Earnings Preview

Oct 29

Earnings and Revenue Growth Forecasts

NYSE:FTS - Analysts future estimates and past financials data (CAD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	12,912	1,818	361	4,220	6
12/31/2025	12,534	1,681	2,089	3,982	7
12/31/2024	11,992	1,575	1,967	3,802	7
12/31/2023	11,517	1,506	-624	3,545	N/A
9/30/2023	11,800	1,495	-365	3,668	N/A
6/30/2023	11,634	1,427	-640	3,361	N/A
3/31/2023	11,527	1,417	-728	3,176	N/A
12/31/2022	11,043	1,330	-791	3,074	N/A
9/30/2022	10,458	1,288	-803	2,922	N/A
6/30/2022	10,101	1,257	-592	3,000	N/A
3/31/2022	9,744	1,226	-516	2,981	N/A
12/31/2021	9,448	1,231	-479	2,907	N/A
9/30/2021	9,211	1,234	-763	2,890	N/A
6/30/2021	9,136	1,231	-831	2,865	N/A
3/31/2021	9,083	1,252	-831	2,850	N/A
12/31/2020	8,935	1,209	-1,338	2,701	N/A
9/30/2020	8,915	1,224	-1,287	2,635	N/A
6/30/2020	8,845	1,210	-1,268	2,806	N/A
3/31/2020	8,738	1,656	-1,430	2,712	N/A
12/31/2019	8,783	1,655	-1,057	2,663	N/A
9/30/2019	8,663	1,570	-983	2,566	N/A
6/30/2019	8,652	1,568	-819	2,505	N/A
3/31/2019	8,629	1,088	-717	2,556	N/A
12/31/2018	8,390	1,100	-614	2,604	N/A
9/30/2018	8,295	973	-322	2,833	N/A
6/30/2018	8,156	975	-236	2,837	N/A
3/31/2018	8,224	992	-196	2,804	N/A
12/31/2017	8,301	963	-268	2,756	N/A
9/30/2017	8,243	1,018	N/A	2,465	N/A
6/30/2017	7,870	867	N/A	2,143	N/A
3/31/2017	7,340	717	N/A	1,942	N/A
12/31/2016	6,838	585	N/A	1,884	N/A
9/30/2016	6,523	531	N/A	1,806	N/A
6/30/2016	6,561	555	N/A	1,686	N/A
3/31/2016	6,614	692	N/A	1,706	N/A
12/31/2015	6,757	728	N/A	1,673	N/A
9/30/2015	6,712	706	N/A	1,610	N/A
6/30/2015	6,343	569	N/A	1,314	N/A
3/31/2015	5,861	372	N/A	1,167	N/A
12/31/2014	5,401	312	N/A	982	N/A
9/30/2014	4,937	299	N/A	878	N/A
6/30/2014	4,655	335	N/A	929	N/A
3/31/2014	4,389	342	N/A	878	N/A
12/31/2013	4,047	333	N/A	896	N/A
9/30/2013	3,817	320	N/A	854	N/A
6/30/2013	3,616	315	N/A	962	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FTS's forecast earnings growth (6.6% per year) is above the savings rate (2.3%).

Earnings vs Market: FTS's earnings (6.6% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: FTS's earnings are forecast to grow, but not significantly.

Revenue vs Market: FTS's revenue (3.7% per year) is forecast to grow slower than the US market (8.2% per year).

High Growth Revenue: FTS's revenue (3.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: FTS's Return on Equity is forecast to be low in 3 years time (7.8%).

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Fortis Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

Price target increased to US$44.76

Price target raised to US$45.35

Recent updates

Fortis: The Sub-Par Performance Continues Due To Valuation

President recently bought US$968k worth of stock

Fortis Inc., Annual General Meeting, May 02, 2024

Dividend of CA$0.59 announced

Full year 2023 earnings: EPS exceeds analyst expectations

Fortis Inc. to Report Q2, 2024 Results on Jul 31, 2024

Fortis Inc. Declares Dividend for the Second Quarter of 2024, Payable on June 1, 2024

Upcoming dividend of CA$0.59 per share at 4.5% yield

Fortis: Preferred Shares Deliver Yield And Outperform Common

Fortis Inc. Announces First Quarter 2024 Dividend, Payable on March 1, 2024

Upcoming dividend of CA$0.59 per share at 4.2% yield

Fortis: An Update On One Of The Larger Canadian Utilities, Maintain 'Hold'

Third quarter 2023 earnings released: EPS: CA$0.81 (vs CA$0.68 in 3Q 2022)

Fortis Inc. Announces Fourth Quarter Dividend, Payable on December 1, 2023

Fortis: 8-9% Yielding Preferred Shares Offer A Lower Risk Prospect Vs. Common Shares

Upcoming dividend of CA$0.56 per share at 4.1% yield

Fortis Inc. to Report Q4, 2023 Results on Feb 09, 2024

Second quarter 2023 earnings: Revenues and EPS in line with analyst expectations

Fortis Inc. Announces Dividend for the Third Quarter 2023, Payable on September 1, 2023

Fortis: A Stable High-Yielding Utility That Is Too Expensive

High number of new directors

Upcoming dividend of CA$0.56 per share at 3.7% yield

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Chief Information Officer & VP recently sold US$116k worth of stock

Fortis Inc., Annual General Meeting, May 04, 2023

Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat

Fortis Inc. Announces Second Quarter Dividend on the Common Shares, Payable on June 1, 2023

Fortis Q4 Earnings Preview

Upcoming dividend of CA$0.56 per share at 4.1% yield

Fortis: A Dividend King In The Making

Fortis Inc. Announces Dividend, Payable on March 1, 2023

President recently bought US$743k worth of stock

Upcoming dividend of CA$0.56 per share

Fortis Warrants A Valuation Update After A 14% Drop - Close To A 'Buy'

FortisAlberta Inc. Declares Fourth Quarter Dividend

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Fortis Q3 2022 Earnings Preview

Now 22% undervalued after recent price drop

Fortis Inc. to Report Q3, 2022 Results on Oct 28, 2022

Fortis raises dividend 5.6% to CAD 0.565/share

Now 21% undervalued after recent price drop

Fortis subsidiary launches senior notes offering

Fortis: Completion Of Energy Projects Will Likely Push The Price Up

Upcoming dividend of CA$0.54 per share

Fortis Inc. Announces Board Changes

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Fortis Inc. Announces Dividend on Common Shares, Payable on September 1, 2022

Fortis declares CAD 0.535 dividend

Executive VP recently bought US$60k worth of stock

Fortis: Strong Renewable Ambitions And Financials But Appears Overpriced

Upcoming dividend of CA$0.54 per share

Fortis Inc. Appoints Lisa Crutchfield to the Board

Fortis Inc. Announces Executive Changes

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Fortis: I Remain At 'Hold', But There Is A Potential Upside At 18X P/E

Fortis Inc., Annual General Meeting, May 05, 2022

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Fortis Inc. to Report Q2, 2022 Results on Jul 28, 2022

Fortis Inc. Declares Second Quarter Dividend, Payable on June 1, 2022

Upcoming dividend of CA$0.54 per share

Upcoming dividend of CA$0.54 per share

Third quarter 2021 earnings released: EPS CA$0.63 (vs CA$0.63 in 3Q 2020)

Fortis: A Solid Dividend Investment

Upcoming dividend of CA$0.51 per share

Second quarter 2021 earnings released: EPS CA$0.54 (vs CA$0.59 in 2Q 2020)

Fortis Is A Dividend Grower With More Upside

Price target increased to US$44.76

Upcoming dividend of CA$0.51 per share

First quarter 2021 earnings released: EPS CA$0.76 (vs CA$0.67 in 1Q 2020)

Fortis Q1 2021 Earnings Preview

Fortis Is A Fantastic Investment - But Not Now

Fortis Inc. Declares Dividend on Common Shares, Payable on June 1, 2021

Price target raised to US$45.35