Fortis Reports Q1 2026 Earnings, Details $28.8B Capital Plan and Affirms Dividend Growth Through 2030
FTS sits 25% above its 52-week low of $45.865.
Summary
Fortis Inc. reported Q1 2026 earnings, detailed a substantial $28.8 billion capital plan for 2026-2030, and reaffirmed its commitment to annual dividend growth through 2030, supported by positive regulatory developments.
Key Events · Earnings and Guidance · FTS
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Q1 2026 Earnings Per Share
Reported Q1 2026 EPS of $0.99, compared to $1.00 in Q1 2025, with the slight decrease attributed to dilutive impacts from 2025 dispositions.
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Five-Year Capital Plan
Unveiled a $28.8 billion capital plan for 2026-2030, projected to drive a 7% compound annual growth rate in the consolidated rate base.
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Funding Strategy
The capital plan will be funded primarily by 59% cash from operations, 30% net debt, and 11% equity, including a $500 million At-The-Market (ATM) program for flexibility.
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Regulatory Progress
Highlighted constructive regulatory outcomes, including an approved 9.61% ROE for UNS Gas and ACC Staff recommendations for a 9.75% ROE for TEP, alongside approval for the Springerville Generating Station's conversion to natural gas.
Analysis · FTS · Energy & Transportation
This 6-K filing provides Fortis Inc.'s Q1 2026 financial results and a comprehensive investor presentation outlining its strategic direction. While Q1 EPS saw a slight dip, the company attributes this to prior year dispositions and emphasizes its robust $28.8 billion capital plan for 2026-2030, which is expected to drive a 7% rate base growth. Positive regulatory outcomes, particularly for UNS Energy and TEP, underscore a constructive operating environment. The commitment to 52 consecutive years of dividend increases and guidance for continued growth through 2030 signals strong financial stability and a focus on shareholder returns, making this a significant update for long-term investors.
At the time of this filing, FTS was trading at $57.44 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $29.1B. The 52-week trading range was $45.87 to $58.78. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.