Fortis Reports Q3 2026 Earnings, Expands Capital Plan to $32.2 Billion
Fortis reported net earnings of $474 million, or $0.92 per share, versus $0.81 a year earlier. Its 2027–2031 capital plan is $32.2 billion, $3.4 billion above the prior plan, with 7.5% rate base growth supported. The company raised its fourth-quarter dividend 4% and extended 4–6% annual dividend growth guidance through 2031.
Fortis Inc. announced third quarter 2026 net earnings of $474 million, or $0.92 per common share, compared to $0.81 per share in the same period of 2025. The company introduced a new $32.2 billion five-year capital plan for 2027-2031, which is $3.4 billion larger than its previous plan and supports a 7.5% rate base growth. Additionally, the company increased its fourth-quarter common share dividend by 4% and extended its annual dividend growth guidance of 4-6% through 2031.
Key operational updates include a US$1.0 billion competitive transmission project awarded to ITC in Iowa and environmental approvals for LNG projects in British Columbia. Management stated that the capital plan is the largest in the company's history and is designed to support long-term rate base growth and reliable energy service.