Fortis 1Q Earnings Lifted by Rate-Base Growth

Published: 2025-05-07 07:08:12 ET FTS.TO

Published on 05/07/2025 at 07:08

By Robb M. Stewart

Fortis earnings rose in the first quarter of the year, lifted by increased base rates across the Canadian company's utilities and with a tailwind from a higher exchange rate for the dollar against the Canadian currency.

The holding company, which has electricity and natural-gas operations in North America and the Caribbean, said on Wednesday that it recorded earnings attributable to shareholders of 499 million Canadian dollars ($362.2 million), or C$1 a share, for the three months against C$459 million, or C$0.93 a share, a year earlier.

The St. John's, Newfoundland, company's revenue for the quarter was up 7.1% to C$3.34 billion, beating the C$3.13 billion analysts polled by FactSet expected.

Write to Robb M. Stewart at [email protected]

(END) Dow Jones Newswires

05-07-25 0707ET