Skip to content

Fortis sees earnings of $331 million in Q2, up from a year ago

ST. JOHN'S, N.L. — Fortis Inc. says it earned $331 million in its second quarter as it saw strength in its Arizona business and benefited from new customer rates at Tucson Electric Power. The St. John's, N.L.
969ccd8bc33b2909320051b03ec4bd037da9970a815718332315ce82e8639da8
Fortis Inc. logo is shown in a handout. THE CANADIAN PRESS/HO

ST. JOHN'S, N.L. — Fortis Inc. says it earned $331 million in its second quarter as it saw strength in its Arizona business and benefited from new customer rates at Tucson Electric Power.

The St. John's, N.L.-based gas and electric utility company says the profit compared with $294 million in the same quarter a year ago.

The profit for the period ended June 30 amounted to 67 cents per share, up from 61 cents a year earlier.

Fortis says its adjusted net earnings amounted to 67 cents per share, up from 62 cents per share in the second quarter of 2023.

Revenue for the quarter reached $2.6 billion compared with $2.5 billion a year earlier.

Its capital expenditures hit $1.1 billion in the quarter compared with about $1 billion a year prior.

This report by The Canadian Press was first published July 31, 2024.

Companies in this story: (TSX:FTS)

The Canadian Press

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks