On an adjusted basis, which strips out a loss related to investments in Belize, earnings climbed to C$0.90 per share. This figure comfortably surpassed the C$0.85 average estimate from analysts surveyed by FactSet. The St. John’s-based firm attributed the performance to sustained growth in its regulated utility assets, which provide essential electricity and natural gas services to millions of customers.

Strategic Capital Expansion

The company’s growth trajectory is anchored by a C$28.8 billion five-year capital plan. According to the utility, this investment is projected to swell its midyear rate base from C$42.4 billion in 2025 to C$57.9 billion by 2030, representing a compound annual growth rate of 7%.

Management expects this expanding rate base to serve as the primary engine for future earnings, supporting a dividend-growth target of 4% to 6% annually through the end of the decade. The outlook underscores Fortis’s commitment to steady shareholder returns amid a broader push to modernize infrastructure across its diverse portfolio of regulated utilities.