Fortis Inc. delivered robust results in Q2 2025, with significant growth in earnings driven by rate base expansions and strategic capital projects, offset partially by higher operating costs and finance expenses.
Net earnings increased to $384 million, up from $331 million in Q2 2024.
Capital expenditures remained strong at $2.9 billion in the first half of 2025, aligning with the $5.2 billion annual plan.
TEP progressed on significant load growth opportunities, including an agreement for a 300 MW data center.
Fitch Ratings assigned Fortis a first-time BBB+ rating, indicating a stable financial outlook.
Fortis remains optimistic, projecting steady growth through significant capital investments and regulatory developments, with manageable risks from macroeconomic factors.