Fortis Inc. Reports 2020 Results

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Go back to Fortis Inc. Reports 2020 Results

Fortis (FTS) Misses Q4 EPS by 1c

February 12, 2021 6:50 AM EST

Fortis (NYSE: FTS) reported Q4 EPS of $0.69, $0.01 worse than the analyst estimate of $0.70.

Highlights

Reported annual net earnings of $1,209 million, or $2.60 per common share in 2020Delivered adjusted net earnings2 of $1,195 million, or $2.57 per common share, up from $1,115 million, or $2.55 per common share in 2019Executed record capital expenditures of $4.2 billion yielding annual rate base growth of 8.2%3Received constructive final order on Tucson Electric Power's general rate application with new customer rates effective January 1, 2021Established a new corporate-wide emissions reduction target of 75% by 2035

"2020 proved to be a successful... More