NYSE$FTS
Fortis Inc · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Fortis Q2 EPS rises to C$0.76 on C$2.8B revenue as rate-base growth drives earnings
Fortis Inc. reported second-quarter 2025 net earnings attributable to common equity shareholders of C$384 million, or C$0.76 per common share, up from C$331 million or C$0.67 in Q2 2024. Revenue was C$2.82 billion versus C$2.67 billion a year ago, driven by rate-base growth, higher flow-through costs in customer rates, and Central Hudson's revenue requirement reset effective July 1, 2024. The increase was partially offset by timing of operating costs, expiration of a regulatory incentive, lower allowed ROE at FortisAlberta, and higher holding company finance costs. First-half capital expenditures totaled C$2.9 billion against a C$5.2 billion annual plan. Fortis advanced load-growth opportunities including a ~300 MW data center agreement at Tucson Electric Power and received inaugural BBB+ ratings from Fitch.
- Q2 net earnings C$384M (C$0.76/share), up C$53M or C$0.09 vs Q2 2024
- Revenue C$2.82B vs C$2.67B prior year on rate-base and Central Hudson growth
- H1 capital expenditures C$2.9B; C$5.2B annual capital plan on track
- TEP advanced ~300 MW data center agreement; filed general rate application for 2026
- Fitch assigned first-time BBB+ issuer rating with stable outlook
Headline financials
Revenue & EPS history
Fortis · Revenue · Quarterly
C$2.82B
Forward guidance
Fortis expects its C$26 billion five-year capital plan to grow midyear rate base from C$39.0B in 2024 to C$53.0B by 2029 (6.5% CAGR), supporting 4-6% annual dividend growth through 2029.
Tailwinds
- Rate-base growth across diversified North American utility portfolio
- Load growth opportunities from data centers and transmission expansion
Headwinds
- FortisAlberta lower allowed ROE and expired regulatory incentive weighed on results
- Interim GHG reduction targets may take longer given load growth and policy uncertainty
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2025
+0.6%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+0.8%
Avg return
30 days after
64%
23 / 36 earnings
Positive
+5.3%
Q4 2017
Best reaction
-4.8%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.3% | +0.4% | -0.4% | |
| Q4 2025 | +2.9% | +4.6% | +6.8% | |
| Q2 2025 | +1.9% | +3.0% | +1.6% | |
| Q1 2025 | +1.6% | -4.7% | -3.1% | |
| Q3 2024 | +2.4% | -2.4% | -2.0% | |
| Q2 2024 | +1.3% | +1.3% | +6.7% | |
| Q1 2024 | +1.2% | -0.5% | +1.3% | |
| Q4 2023 | +1.3% | -0.2% | +2.9% | |
| Q3 2023 | +0.0% | +0.6% | +2.4% | |
| Q2 2023 | -4.8% | -4.6% | -6.1% | |
| Q1 2023 | +2.5% | +4.7% | -1.9% | |
| Q4 2022 | +4.9% | +3.2% | -3.2% | |
| Q3 2022 | +1.4% | +0.7% | +5.1% | |
| Q2 2022 | -0.1% | -1.0% | -4.7% | |
| Q1 2022 | +0.4% | +2.7% | +4.1% | |
| Q4 2021 | -3.5% | -3.2% | +1.6% | |
| Q3 2021 | +0.4% | +0.6% | -1.8% | |
| Q2 2021 | +1.0% | +1.0% | +1.9% | |
| Q1 2021 | +1.6% | +2.3% | +2.9% | |
| Q4 2020 | -0.2% | -0.5% | +3.2% | |
| Q3 2020 | -1.8% | +0.0% | +0.5% | |
| Q2 2020 | +0.7% | +1.3% | -1.7% | |
| Q1 2020 | -2.1% | -0.3% | +3.5% | |
| Q4 2019 | +1.1% | +1.7% | -13.2% | |
| Q3 2019 | -1.0% | -2.3% | -6.0% | |
| Q2 2019 | -0.3% | +1.5% | +3.9% | |
| Q1 2019 | -0.7% | -0.2% | +2.2% | |
| Q4 2018 | -0.8% | -0.5% | +3.8% | |
| Q3 2018 | +1.4% | +3.8% | +5.3% | |
| Q2 2018 | +1.0% | +1.8% | +1.3% | |
| Q4 2017 | +5.3% | +3.5% | +3.2% | |
| Q2 2017 | +2.5% | +3.5% | +3.5% | |
| Q2 2016 | +2.5% | +3.5% | +3.5% | |
| Q4 2016 | -0.4% | +2.4% | +4.0% | |
| Q4 2015 | -0.4% | +2.4% | +4.0% | |
| Q3 2016 | +1.2% | -0.4% | -5.4% |
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