Fortis delivered steady but unspectacular Q2 results with modest EPS growth. The key catalyst is the Tilbury LNG expansion approval, which adds incremental capital opportunity beyond the current plan. Monitor the next five-year capital plan update for Tilbury 1B cost estimates and any MISO transmission investments. The 4-6% dividend growth guidance supports the utility thesis but offers no near-term upside trigger.
Price Chart
Executive Summary
Fortis reported Q2 2026 EPS of $0.78, slightly above $0.76 a year ago, and net earnings of $396M vs $384M. The $5.6B annual capital plan remains on track, and the Tilbury Phase 1B LNG expansion was approved. Results reflect steady regulated utility growth but no major upside surprise, consistent with the stock's neutral historical drift pattern.
Key Financial Metrics
Key Facts
- Q2 2026 EPS $0.78 vs $0.76 YoY
- Net earnings $396M vs $384M YoY
- Capital expenditures $2.7B in H1 2026
- Tilbury Phase 1B LNG expansion approved with $2.2B cost allowance
- Five-year capital plan $28.8B, targeting 7% rate base CAGR to $57.9B by 2030
- Dividend growth guidance 4-6% annually through 2030
- S&P and Fitch confirmed credit ratings with stable outlook in May 2026
Financial Impact
Q2 EPS $0.78 vs $0.76 YoY; net earnings +3.1% YoY
Risk Factors
- Higher costs not yet reflected in customer rates
- Foreign exchange impact from Canadian dollar reporting
- Regulatory approvals still required for Tilbury 1B construction
- Lower wholesale margin at UNS Energy
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3336662 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 6-K | $54.48 $54.48 | · 0.00% | ▲ +0.50% | $52.87 (−2.96%) |
Sep 9, 2026 23d ago | Press Release | $54.48 $54.48 | · 0.00% | ▲ +0.50% | $52.87 (−2.96%) |
Jul 31, 2026 9w ago | 6-K | $57.00 $56.10 | ▼ −1.58% | ▼ −5.09% | $52.87 (−7.25%) |
Jul 31, 2026 9w ago | Press Release | $57.00 $56.10 | ▼ −1.58% | ▼ −5.09% | $52.87 (−7.25%) |
Jul 29, 2026 9w ago | Press Release | $57.47 $55.92 | ▼ −2.70% | ▼ −6.32% | $52.87 (−8.00%) |
Jul 23, 2026 10w ago | Press Release | $58.84 $57.47 | ▼ −2.33% | ▼ −2.70% | $52.87 (−10.15%) |
Jul 2, 2026 13w ago | Press Release | $57.98 $57.11 | ▼ −1.50% | ▼ −2.43% | $52.87 (−8.81%) |
Jun 12, 2026 16w ago | 6-K | $56.91 $56.09 | ▼ −1.44% | ▼ −2.11% | $52.87 (−7.10%) |
May 7, 2026 21w ago | Press Release | $56.14 $56.20 | ▲ +0.11% | ▼ −1.40% | $52.87 (−5.82%) |
May 6, 2026 21w ago | Press Release | $56.13 $56.35 | ▲ +0.39% | ▼ −0.74% | $52.87 (−5.81%) |
US Market Status
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