Fortis Q4 2024 Earnings Report
Key Takeaways
Fortis posted solid financial results for Q4 2024, with revenue reaching $3.0 billion and net earnings increasing to $396 million. Adjusted EPS rose to $0.83, reflecting improved rate base growth and new customer rates. The company remains committed to its five-year capital plan of $26 billion to drive long-term growth.
Revenue for Q4 2024 was $3.0 billion, supported by rate base expansion.
Net earnings increased to $396 million, with adjusted EPS at $0.83.
Capital expenditures for the quarter reached $1.69 billion, reflecting ongoing infrastructure investments.
Fortis reaffirmed its commitment to a 4-6% annual dividend growth through 2029.
Fortis Revenue
Fortis EPS
Fortis Revenue by Segment
Fortis Revenue by Geographic Location
Forward Guidance
Fortis maintains its outlook for long-term growth, emphasizing infrastructure investments, regulatory stability, and dividend growth.
Positive Outlook
- Continued rate base growth supporting earnings expansion.
- Reaffirmed commitment to a $26 billion capital plan through 2029.
- Expected increase in transmission and grid resilience investments.
- Favorable regulatory developments in Arizona and MISO region.
- Dividend growth guidance maintained at 4-6% annually through 2029.
Challenges Ahead
- Potential impact of regulatory changes on transmission earnings.
- Rising operating expenses affecting Arizona operations.
- Unrealized losses on derivative contracts impacting short-term performance.
- Higher financing costs from increased corporate debt.
- Macroeconomic factors affecting customer demand and growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income