May 27th, 2024

Fortis reports $459M Q1 profit, up from $437M a year ago

By The Canadian Press on May 1, 2024.

ST. JOHN’S, N.L. – Fortis Inc. says it earned $459 million in its first quarter, up from $437 million in the same quarter last year.

The gas and electric utility company says the profit amounted to 93 cents per share for the quarter ended March 31, up from 90 cents per share a year earlier.

Revenue in the quarter totalled $3.12 billion, down from $3.32 billion in its first quarter last year.

Capital expenditures amounted to $1.13 billion in the quarter, up from $995 million a year earlier.

On an adjusted basis, Fortis says it earned 93 cents per share in its latest quarter, up from an adjusted profit of 91 cents per share in the same quarter last year.

Fortis serves utility customers in five Canadian provinces, 10 U.S. states and three Caribbean countries.

This report by The Canadian Press was first published May 1, 2024.

Companies in this story: (TSX:FTS)

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