Fortis Reports Strong 2025 Earnings, Unveils Record $28.8B Capital Plan, and Affirms Dividend Growth Through 2030

summarizeSummary

Fortis Inc. filed its comprehensive annual report, detailing strong 2025 financial results, including adjusted EPS growth and a record $28.8 billion capital plan for 2026-2030, reinforcing its long-term growth and dividend strategy.

check_boxKey Events

• Strong 2025 Financial Performance

  Reported adjusted EPS of $3.53 for 2025, an increase of $0.25 from $3.28 in 2024. The company also declared a 4.1% increase in its Q4 2025 dividend to $0.64 per share, marking its 52nd consecutive year of dividend increases, with guidance for 4-6% annual growth through 2030.

• Record $28.8 Billion Capital Plan

  Unveiled its largest-ever five-year capital plan for 2026-2030, totaling $28.8 billion. This plan is $2.8 billion higher than the previous five-year plan and is projected to increase the midyear Rate Base from $42.4 billion in 2025 to $57.9 billion by 2030, representing a 7.0% compound annual growth rate.

• Strategic Asset Dispositions

  Completed the sale of its 100% ownership in FortisTCI and Fortis Belize, and its 33% equity investment in Belize Electricity in 2025, resulting in $63 million in losses related to income taxes and closing costs. These dispositions streamline the company's portfolio.

• Effective Internal Controls and Audit Opinion

  Management concluded that internal control over financial reporting was effective as of December 31, 2025. Deloitte LLP issued an unqualified opinion on both the consolidated financial statements and the effectiveness of internal control over financial reporting.

auto_awesomeAnalysis

Fortis Inc.'s annual report confirms a robust financial performance for 2025, marked by significant adjusted EPS growth and a 52nd consecutive year of dividend increases. The highlight is the announcement of a record $28.8 billion capital plan for 2026-2030, which is the largest in the company's history and is expected to drive substantial rate base growth. This aggressive capital deployment signals strong future growth and confidence in the company's regulated utility model. The strategic dispositions of non-core Caribbean assets, while incurring some losses, align with a focus on core operations. The unqualified audit opinion on internal controls further reinforces investor confidence in the company's governance and financial reporting.