Fortis
Logotype for Fortis Inc

Fortis (FTS) investor relations material

Fortis Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Fortis Inc
Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Achieved strong operational and financial performance in 2025, with annual net earnings of $1.7 billion ($3.40 per share), up from $1.6 billion ($3.24 per share) in 2024, and a 7% rate base growth supported by $5.6B in capital expenditures.

  • Marked 52 consecutive years of dividend increases, including a 4.1% increase in Q4, and recognized for top governance practices among S&P/TSX Composite Index companies.

  • Released the 2026 Climate Resiliency Report, highlighting climate risk integration and a 38% reduction in scope 1 GHG emissions since 2019.

  • Dispositions of FortisTCI and Belize investments resulted in $63 million in losses, partially offsetting earnings growth.

  • Delivered a one-year total shareholder return of nearly 24% and a 20-year cumulative return of 517%.

Financial highlights

  • 2025 adjusted EPS was $3.53, up $0.25 year-over-year, with reported EPS of $3.40; Q4 adjusted EPS was $0.90, up from $0.83 in Q4 2024.

  • 2025 revenue totaled $12 billion, with total assets of $75 billion at year-end.

  • Capital expenditures reached $5.6 billion, supporting a 7% annual rate base growth to $42.4 billion.

  • Adjusted payout ratio improved to 70.4% in 2025 from 72.7% in 2024.

  • Strong rate base growth across utilities was a key earnings driver.

Outlook and guidance

  • Launched a new $28.8 billion five-year capital plan (2026-2030), targeting a 7% consolidated rate base CAGR, reaching $57.9 billion by 2030.

  • Committed to 4-6% annual dividend growth guidance through 2030.

  • Capital plan funding to come primarily from operations, regulated utility debt, and dividend reinvestment plan.

  • Focused on incremental growth opportunities, including data center load in Arizona, major transmission, LNG projects, and a coal-free generation mix by 2032.

  • Opportunities identified for further growth beyond the current capital plan.

What makes the $28.8B capital plan low-risk
Explain the UNS Gas rate application's formulaic exceptions
What informs new interim emission targets
Explain data center benefits for TEP customers
UNS Gas formula rate: key changes sought
ITC Tranche 2.1 non-competitive investment outlook
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Fortis earnings date

Logotype for Fortis Inc
Q1 20266 May, 2026
Fortis
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Fortis earnings date

Logotype for Fortis Inc
Q1 20266 May, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Fortis Inc., a leader in the North American regulated electric and gas utility industry, serves more than 3.3 million customers across Canada, the United States, and the Caribbean countries. With total assets of approximately $50.6 billion and fiscal 2018 revenue of $6.8 billion, owns utilities that are recognized for their excellent customer service, high reliability, and superior energy efficiency solutions. Its regulated utility companies serve more than 90% of its total customers in Canada, Bermuda, and 8 U.S. states. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage