Quarterly ResultJul 31, 2026, 06:03 AM
Fortis Q2 Net Earnings $396M, EPS $0.78; Tilbury Expansion Approved
AI Summary
Fortis Inc. reported strong second quarter 2026 results with net earnings of $396 million CAD and EPS of $0.78 CAD, an increase from the prior year. The company is on track with its $5.6 billion annual capital plan, having invested $2.7 billion CAD in the first half of 2026. Key project milestones include the approval of the Tilbury Phase 1B expansion with a $2.2 billion CAD cost allowance and the completion of the Roadrunner Reserve II battery project. Fortis also highlighted its sustainability progress, achieving a 38% reduction in Scope 1 GHG emissions by 2025.
Key Highlights
- Q2 2026 net earnings were $396 million CAD, up from $384 million CAD in Q2 2025.
- Q2 2026 earnings per common share were $0.78 CAD, up from $0.76 CAD in Q2 2025.
- H1 2026 capital expenditures totaled $2.7 billion CAD, on track for $5.6 billion annual plan.
- Tilbury Phase 1B expansion approved in British Columbia with up to $2.2 billion CAD cost allowance.
- Roadrunner Reserve II battery project (200 MW) completed in Arizona.
- S&P and Fitch confirmed credit ratings (A-/BBB+ and BBB+) with stable outlook.
- Achieved 38% reduction in Scope 1 GHG emissions by 2025 compared to 2019 levels.
- Five-year capital plan of $28.8 billion CAD targets 7% CAGR in rate base through 2030.
Price Impact
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