Fortis Past Earnings Performance

Past criteria checks 5/6

Fortis has been growing earnings at an average annual rate of 0.8%, while the Electric Utilities industry saw earnings growing at 5.7% annually. Revenues have been growing at an average rate of 7.2% per year. Fortis's return on equity is 7.3%, and it has net margins of 13.1%.

Key information

0.8%

Earnings growth rate

-2.1%

EPS growth rate

Electric Utilities Industry Growth	6.3%
Revenue growth rate	7.2%
Return on equity	7.3%
Net Margin	13.1%
Next Earnings Update	01 May 2024

Recent past performance 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

Revenue & Expenses Breakdown
Beta

How Fortis makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:FTS Revenue, expenses and earnings (CAD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	11,517	1,506	-62
30 Sep 23	11,800	1,495	-71
30 Jun 23	11,634	1,427	-75
31 Mar 23	11,527	1,417	-84
31 Dec 22	11,043	1,330	-92
30 Sep 22	10,458	1,288	-76
30 Jun 22	10,101	1,257	-71
31 Mar 22	9,744	1,226	-58
31 Dec 21	9,448	1,231	-45
30 Sep 21	9,211	1,234	-47
30 Jun 21	9,136	1,231	-36
31 Mar 21	9,083	1,252	-34
31 Dec 20	8,935	1,209	-31
30 Sep 20	8,915	1,224	-32
30 Jun 20	8,845	1,210	-29
31 Mar 20	8,738	1,656	-19
31 Dec 19	8,783	1,655	-11
30 Sep 19	8,663	1,570	2
30 Jun 19	8,652	1,568	2
31 Mar 19	8,629	1,088	2
31 Dec 18	8,390	1,100	2
30 Sep 18	8,295	973	11
30 Jun 18	8,156	975	11
31 Mar 18	8,224	992	11
31 Dec 17	8,301	963	11
30 Sep 17	8,243	1,018	0
30 Jun 17	7,870	867	0
31 Mar 17	7,340	717	0
31 Dec 16	6,838	585	0
30 Sep 16	6,523	531	0
30 Jun 16	6,561	555	0
31 Mar 16	6,614	692	0
31 Dec 15	6,757	728	0
30 Sep 15	6,712	706	0
30 Jun 15	6,343	569	0
31 Mar 15	5,861	372	0
31 Dec 14	5,401	312	0
30 Sep 14	4,937	299	0
30 Jun 14	4,655	335	0
31 Mar 14	4,389	342	0
31 Dec 13	4,047	333	0
30 Sep 13	3,817	320	0
30 Jun 13	3,616	315	0

Quality Earnings: FTS has high quality earnings.

Growing Profit Margin: FTS's current net profit margins (13.1%) are higher than last year (12%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: FTS's earnings have grown by 0.8% per year over the past 5 years.

Accelerating Growth: FTS's earnings growth over the past year (13.2%) exceeds its 5-year average (0.8% per year).

Earnings vs Industry: FTS earnings growth over the past year (13.2%) exceeded the Electric Utilities industry 3.8%.

Return on Equity

High ROE: FTS's Return on Equity (7.3%) is considered low.

Return on Assets

Return on Capital Employed

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Fortis Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

Full year 2023 earnings: EPS exceeds analyst expectations

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

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

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

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

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

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)

Revenue & Expenses Breakdown
Beta