Fortis (FTS) Misses Q4 EPS by 2c

Fortis (NYSE: FTS) reported Q4 EPS of $0.56, $0.02 worse than the analyst estimate of $0.58.

• Strong annual 2018 net earnings of $2.59 per common share
• Deployed record capital expenditures of $3.2 billion at its utilities in 2018
• Five-year capital expenditure plan of $17.3 billion, up 20% over the prior year's plan
• Issued first sustainability report, reinforcing commitment to sustainability
• Average annual dividend growth target of 6% through 2023 reaffirmed
• Asset sale announced in 2019 for approximately $1 billion, supporting the capital funding plan

"After considerable acquisition-driven growth in recent years, Fortis is a premier North American utility forging ahead with excellence in operations, sustainability and financial performance," said Barry Perry, President and Chief Executive Officer, Fortis. "In 2018 we launched our most ambitious utility capital expenditure plan ever at $17.3 billion for the period 2019 to 2023."

For earnings history and earnings-related data on Fortis (FTS) click here.

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