Fortis Q2 2026: Earnings Climb to C$0.78/Share; Tilbury 1B Approved, Capital Plan on Track
FTS sits 19% above its 52-week low of $48.53.
Summary
Fortis Inc. posted Q2 2026 net earnings of C$396 million (C$0.78/share), up from C$0.76 a year ago. The Tilbury LNG Phase 1B expansion received approval with a cost allowance of up to C$2.2 billion, and the C$5.6 billion annual capital plan is progressing as planned.
Key Events · Earnings and Guidance · FTS
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Q2 Earnings Rise
Driven by rate base growth and higher retail electricity sales, net earnings reached C$396 million (C$0.78/share), compared with C$384 million (C$0.76/share) in Q2 2025.
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Tilbury 1B Approved
The Province of British Columbia greenlit the Phase 1B expansion of the Tilbury LNG facility, authorizing a cost allowance of up to C$2.2 billion and adding a major growth project beyond the current capital plan.
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Capital Plan On Track
With C$2.7 billion invested in the first half of 2026, the C$5.6 billion annual capital plan remains on schedule. In Arizona, the Roadrunner Reserve II battery project has been completed.
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Dividend Growth Supported
A dividend of C$0.64 per share was declared, payable September 1, 2026. Management reaffirmed its 4-6% annual dividend growth guidance through 2030.
Analysis · FTS · Energy & Transportation
A solid quarter saw earnings per share rise 2.6% year-over-year, fueled by rate base growth and stronger retail electricity sales. The approval of the C$2.2 billion Tilbury Phase 1B expansion introduces a significant growth project beyond the current five-year plan, while the C$5.6 billion annual capital plan remains on schedule. These results underpin the utility's 4-6% annual dividend growth guidance through 2030.
At the time of this filing, FTS was trading at $57.56 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $29.3B. The 52-week trading range was $48.53 to $59.40. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.