Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Fortis (FTS) - Fortis currently holds a Momentum Style Score of A and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - The stock has shown a price increase of 5.24% over the past week, outperforming the Zacks Utility - Electric Power industry, which rose by 4.55% [6] - Over the past month, Fortis shares increased by 9.45%, compared to the industry's 7.16% [6] - In the last quarter, Fortis shares rose by 10.22%, and over the past year, they increased by 26.65%, while the S&P 500 only moved 1.74% and 13.08%, respectively [7] Trading Volume - Fortis has an average 20-day trading volume of 1,059,620 shares, which is a useful indicator of market interest and price movement [8] Earnings Outlook - In the past two months, four earnings estimates for Fortis have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $2.56 to $2.63 [10] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions [10] Conclusion - Given the strong momentum indicators and positive earnings outlook, Fortis is positioned as a promising investment opportunity [12]

Financial Data and Key Metrics Changes - Reported earnings per common share for Q4 2025 were CAD 0.83, CAD 0.04 higher than Q4 2024, with adjusted EPS at CAD 3.53, a 25-cent increase from 2024 [11][12][13] - Reported EPS for 2025 was CAD 3.40, reflecting a 16-cent increase from 2024, despite losses from the disposition of investments in Belize and Turks and Caicos [13][16] - The company achieved a one-year total shareholder return of nearly 24% and average annual total shareholder returns of approximately 10% over the past 20 years [6][16] Business Line Data and Key Metrics Changes - Western Canadian utilities contributed a 10-cent increase in EPS, driven by rate-based growth, particularly from FortisBC's investment in the Eagle Mountain Pipeline Project [14] - U.S. electric and gas utilities delivered an eight-cent increase in EPS, with Central Hudson benefiting from rate-based growth and cost rebasing [14] - ITC's capital investments and related rate-based growth increased EPS by CAD 0.04, moderated by higher stock-based compensation and finance costs [15] Market Data and Key Metrics Changes - In Arizona, the Arizona Corporation Commission approved an energy supply agreement for approximately 300 MW to support a planned data center, with a 10-year contract including a 75% minimum billing requirement [8][9] - The company is negotiating for an additional 300 MW capacity at the same site and a second site in the range of 500-700 MW, with potential new generation investments estimated at CAD 1.5 billion to CAD 2 billion through 2030 [9][10] Company Strategy and Development Direction - The company rolled out a CAD 28.8 billion five-year capital plan, focusing on regulated investments primarily in transmission and distribution assets, expecting a 7% average annual rate base growth [6][7][20] - The strategy includes maintaining a commitment to 4%-6% annual dividend growth through 2030, supported by strong capital investments and operational efficiency [10][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the regulatory environment and ongoing projects, particularly in Arizona and ITC, highlighting the importance of affordability and customer service [23][30][65] - The company is focused on executing its capital plan while addressing cost pressures and maintaining reliability and safety in operations [5][20] Other Important Information - The company has maintained a strong liquidity position with CAD 2.7 billion of long-term debt issued in 2025 and nearly CAD 4 billion available on credit facilities [16][17] - S&P confirmed the company's A- issuer rating and revised the outlook from negative to stable, reflecting improving financial measures [17] Q&A Session Summary Question: Data center opportunity in Arizona - Management explained that the energy supply agreement is structured to ensure affordability and cost recovery, with the customer covering interconnection costs [22][23] Question: Updates from FERC - Management noted optimism regarding potential movement on ongoing FERC matters, emphasizing the new chair's focus on regulatory clarity [28][30] Question: UNS Gas rate case - Management indicated that the upcoming ACC open meeting could provide clarity on the formulaic rate structure, but advised waiting for the meeting for specific insights [69][70] Question: LNG projects in British Columbia - Management confirmed that while there are no new announcements, they are looking for additional investment opportunities in LNG projects [43] Question: Customer affordability feedback - Management acknowledged that affordability is a significant concern across jurisdictions, with ongoing efforts to address it consistently [62][65]

Fortis (NYSE:FTS) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsDavid Hutchens - President and CEOJocelyn H. Perry - EVP and CFOKrista Tanner - President and CEOStephanie Amaimo - VP of Investor RelationsSusan Gray - President and CEOConference Call ParticipantsBen Pham - Equity Research AnalystEli Johnson - Equity Research AnalystJohn Mould - Equity Research AnalystMark Jarvi - Equity Research AnalystMaurice Choy - Equity Research AnalystRob Hope - Equity Research AnalystOperatorT ...

Financial Data and Key Metrics Changes - In 2025, reported earnings per common share were CAD 3.40, an increase of CAD 0.16 compared to 2024, while adjusted EPS was CAD 3.53, up CAD 0.25 from the previous year [13][17] - The company achieved a one-year total shareholder return of nearly 24%, with average annual total shareholder returns of approximately 10% over the past 20 years [6][11] - The company maintained a strong liquidity position with CAD 2.7 billion of long-term debt issued in 2025 and nearly CAD 4 billion available on credit facilities at year-end [17][18] Business Line Data and Key Metrics Changes - Western Canadian utilities contributed a CAD 0.10 increase in EPS, driven by rate-based growth, including earnings from FortisBC's investment in the Eagle Mountain Pipeline Project [13][14] - U.S. electric and gas utilities delivered an eight-cent increase in EPS, with Central Hudson's growth attributed to rate-based growth and cost rebasing [14][15] - ITC's continued capital investments and related rate-based growth increased EPS by CAD 0.04, moderated by higher stock-based compensation and finance costs [16] Market Data and Key Metrics Changes - The Arizona Corporation Commission approved an energy supply agreement for approximately 300 MW to support a planned data center, with a 10-year contract including a 75% minimum billing requirement [9][24] - The company is negotiating for an additional 300 MW of capacity for the data center and exploring further capacity at a second site in the range of 500-700 MW [10][24] - The company is also focused on energy efficiency programs to help customers lower their bills and provide assistance to low-income customers [6][11] Company Strategy and Development Direction - The company rolled out a CAD 28.8 billion five-year capital plan, primarily focused on transmission and distribution assets, expecting a rate base increase of CAD 16 billion and average annual rate base growth of 7% [7][8] - The company aims to support 4%-6% annual dividend growth through 2030, continuing its commitment to increasing dividends for 52 consecutive years [11][21] - The company is actively pursuing incremental growth opportunities, including customer connections and MISO LRTP projects, while evaluating competitive bidding opportunities [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the regulatory environment, noting that the new chair of FERC is focused on improving the commission's operations and providing regulatory certainty [30][31] - The company is committed to addressing affordability concerns and ensuring that growth is achieved in a responsible manner for customers [25][62] - Management highlighted the importance of maintaining a strong focus on safety and reliability, with 2025 being one of the best years on record for these metrics [5][21] Other Important Information - The company was recognized for its governance practices, ranking number one in governance out of 206 companies in the S&P/TSX Composite Index [4] - The company has not utilized its CAD 500 million ATM program to date, which remains available for funding flexibility [17][18] Q&A Session Summary Question: Data center opportunity in Arizona - Management explained that the energy supply agreement is structured to ensure affordability and stability for customers, with the data center covering costs without requiring additional investments [24][25] Question: Updates from FERC - Management noted that while there has been chatter about potential updates, no specific information has been received, but there is optimism for movement on ongoing matters [29][30] Question: UNS Gas rate case - Management indicated that the upcoming ACC open meeting could provide clarity on the formulaic rate structure, but it is advisable to wait for the meeting for more information [69][70]

分组1 - Fortis reported quarterly earnings of $0.65 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, and showing an increase from $0.59 per share a year ago, resulting in an earnings surprise of +5.26% [1] - The company achieved revenues of $2.21 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.38%, and up from $2.11 billion year-over-year [2] - Fortis has outperformed the S&P 500 with a share price increase of about 4.9% since the beginning of the year, compared to the S&P 500's gain of 1.4% [3] 分组2 - The earnings outlook for Fortis is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The trend of estimate revisions for Fortis was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - Current consensus EPS estimate for the next quarter is $0.73 on revenues of $2.38 billion, and for the current fiscal year, it is $2.59 on revenues of $9.26 billion [7] 分组3 - The outlook for the Utility - Electric Power industry, where Fortis operates, is currently in the bottom 44% of over 250 Zacks industries, which may impact stock performance [8] - Algonquin Power & Utilities, a peer in the same industry, is expected to report quarterly earnings of $0.05 per share, reflecting a year-over-year decline of -16.7%, with revenues projected at $588.72 million, up 0.7% from the previous year [9][10]

Q4 2025 EARNINGS CONFERENCE CALL February 12, 2026 FORWARD-LOOKING INFORMATION Fortis includes forward-looking information in this presentation within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking information"). Forward-looking information reflects expectations of Fortis management regarding future growth, results of operations, performance and business ...

Core Viewpoint - Fortis Inc. has filed its audited financial statements for the year ended December 31, 2025, along with related documents with Canadian and U.S. regulatory authorities, indicating a commitment to transparency and regulatory compliance [2]. Financial Performance - Fortis reported a revenue of $12 billion for the year 2025 and total assets amounting to $75 billion as of December 31, 2025 [4]. Corporate Structure and Operations - Fortis operates as a diversified leader in the North American regulated electric and gas utility industry, employing approximately 9,900 individuals and serving utility customers across five Canadian provinces, ten U.S. states, and the Caribbean [4]. Regulatory Filings - The Corporation has filed its Form 40-F for the year ended December 31, 2025, with the U.S. Securities and Exchange Commission, alongside its annual information form with Canadian securities regulatory authorities [2]. Shareholder Engagement - The Management Information Circular for the upcoming Annual Meeting of Shareholders is expected to be available to shareholders in late March [3].

INVESTOR PRESENTATION Q1 2026 FORWARD LOOKING INFORMATION Fortis includes forward-looking information in this presentation within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking information"). Forward-looking information reflects expectations of Fortis management regarding future growth, results of operations, performance and business prospects and opport ...

Core Viewpoint - Fortis Inc. demonstrated strong financial and operational performance in 2025, with a focus on reliability, affordability, and disciplined capital execution, leading to solid results and a commitment to long-term value creation [3] Financial Performance - Net earnings for 2025 were reported at $1.7 billion, or $3.40 per common share, an increase from $1.6 billion, or $3.24 per common share in 2024 [4] - Adjusted net earnings per common share rose to $3.53 in 2025 from $3.28 in 2024, reflecting a growth of $151 million or $0.25 per share [5][9] - For Q4 2025, net earnings were $422 million, or $0.83 per common share, compared to $396 million, or $0.79 per common share in Q4 2024 [10] Capital Expenditures and Growth Plans - Fortis announced a five-year capital plan of $28.8 billion, aimed at driving a long-term rate base growth of 7% and supporting annual dividend growth of 4-6% through 2030 [3][20] - Capital expenditures totaled $5.6 billion in 2025, contributing to a midyear rate base of $42.4 billion, representing a 7% growth over 2024 [12][20] Regulatory Updates - The Arizona Corporation Commission approved an Energy Supply Agreement for a planned data center in Tucson Electric Power's service territory, expected to be operational by 2027 [15] - A Recommended Opinion and Order on the UNS Gas General Rate Application suggested an allowed ROE of 9.57% and a 56% common equity component, pending ACC approval [16] Climate Resiliency and Decarbonization Efforts - Fortis released its 2026 Climate Resiliency Report, detailing climate risks and adaptation measures, with a commitment to a coal-free generation mix by 2032 and net-zero emissions by 2050 [17][19] - The company achieved a 38% reduction in scope 1 greenhouse gas emissions through 2025 compared to 2019 levels [19] Outlook and Future Opportunities - The capital plan is expected to increase the midyear rate base to $57.9 billion by 2030, with a compound annual growth rate of 7% [20] - Future growth opportunities include expanding the electric transmission grid, investments in renewable gas and liquefied natural gas infrastructure, and enhancing grid resiliency [21]

Core Viewpoint - Fortis Inc. has declared dividends for its shareholders, highlighting its financial stability and commitment to returning value to investors [2][5]. Group 1: Dividend Declaration - The Board of Directors of Fortis has declared dividends payable on June 1, 2026, to shareholders of record as of May 15, 2026 [2]. - The common share dividend and preference share dividends are designated as eligible dividends for federal and provincial dividend tax credit purposes [2]. Group 2: Company Overview - Fortis is a diversified leader in the North American regulated electric and gas utility industry, with 2024 revenue of CAD 12 billion and total assets of CAD 75 billion as of September 30, 2025 [3]. - The company employs 9,600 individuals and serves utility customers across five Canadian provinces, ten U.S. states, and the Caribbean [3]. - Fortis shares are listed on the TSX and NYSE under the symbol FTS [3]. Group 3: Dividend Amounts - The declared dividends include: - CAD 0.3063 per share on the First Preference Shares, Series "F" - CAD 0.3826875 per share on the First Preference Shares, Series "G" - CAD 0.26144 per share on the First Preference Shares, Series "H" - CAD 0.224630 per share on the First Preference Shares, Series "I" - CAD 0.2969 per share on the First Preference Shares, Series "J" - CAD 0.3418125 per share on the First Preference Shares, Series "K" - CAD 0.3433125 per share on the First Preference Shares, Series "M" - CAD 0.64 per share on the Common Shares [5].