Monitor the TEP rate case outcome expected in fall 2026 and progress on data center load growth projects (Big Cedar, Arizona). The stock is likely to trade on broader utility sector trends and interest rate expectations rather than this quarter's results.
Price Chart
Executive Summary
Fortis reported Q1 2026 net earnings of $501M (EPS $0.99), slightly below prior year's $1.00, reflecting regulatory timing and wholesale market conditions. The capital plan remains on track with dividend growth guidance of 4-6% through 2030 reaffirmed. Earnings were in line with internal expectations but no consensus data is available for this period, making this a routine, neutral release.
Key Financial Metrics
Key Facts
- Q1 2026 net earnings of $501 million, comparable to Q1 2025
- EPS of $0.99 per common share, down $0.01 YoY
- Capital expenditures of $1.4 billion in Q1; $5.6B annual plan on track
- Dividend growth guidance reaffirmed at 4-6% annually through 2030
- Five-year capital plan of $28.8B; rate base growth to $57.9B by 2030 (7% CAGR)
- Approval received for UNS Gas general rate application with formulaic rates
- Executive VP Gary Smith to retire effective May 31, 2026
Financial Impact
No material change in earnings trajectory; capital plan and dividend guidance unchanged
Risk Factors
- Regulatory disallowances or unfavorable outcomes in pending rate cases
- Interest rate sensitivity impacting utility valuations and cost of capital
- Currency headwinds from USD/CAD fluctuations
- Execution risk on large capital projects (Tilbury LNG, Springerville conversion)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3288595 |
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 22d 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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