Fortis Reports $501M Q1 Profit as Revenue Rises and Growth Plan Stays on Track

Fortis Inc. has reported a first-quarter profit of $501 million, slightly up from $499 million recorded during the same period last year, as the energy utility continues to benefit from steady operations across its diversified portfolio.

The company said earnings attributable to common shareholders came in at 99 cents per diluted share, compared with $1 per share a year earlier, reflecting an increase in the number of shares outstanding.

Revenue for the quarter rose to $3.40 billion, up from $3.34 billion in the first quarter of 2025, driven by stable demand across its electricity and natural gas operations.

Capital expenditures totaled $1.36 billion, slightly lower than the $1.42 billion reported in the same quarter last year, as the company continued to execute its long-term infrastructure investment strategy.

Chief executive David Hutchens said the results were in line with expectations, highlighting the strength of Fortis’ diversified business model and its ongoing focus on low-risk capital investments.

Fortis serves utility customers across five Canadian provinces, 10 U.S. states, and the Cayman Islands, positioning it as a major player in North America’s regulated energy sector.

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