Fortis reports $459M Q1 profit, up from $437M a year ago

The Canadian Press

A FortisBC employee walks past a storage tank at the existing Tilbury LNG facility

A FortisBC employee walks past a storage tank at the existing FortisBC Tilbury LNG facility before the groundbreaking for an expansion project in Delta, B.C. , The Canadian Press

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Fortis Inc. says it earned $459 million in its first quarter, up from $437 million in the same quarter last year.

The gas and electric utility company says the profit amounted to 93 cents per share for the quarter ended March 31, up from 90 cents per share a year earlier.

Revenue in the quarter totalled $3.12 billion, down from $3.32 billion in its first quarter last year.

Capital expenditures amounted to $1.13 billion in the quarter, up from $995 million a year earlier.

The information you need to know, sent directly to you: Download the BNN Bloomberg App

On an adjusted basis, Fortis says it earned 93 cents per share in its latest quarter, up from an adjusted profit of 91 cents per share in the same quarter last year.

Fortis serves utility customers in five Canadian provinces, 10 U.S. states and three Caribbean countries.

This report by The Canadian Press was first published May 1, 2024.