Fortis: Q1 Earnings Snapshot
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ST. JOHN`S, Newfoundland (AP) Fortis Inc. (FTS) on Wednesday reported first-quarter profit of $272.4 million.
The St. john`S, Newfoundland-based company said it had net income of 58 cents per share. Earnings, adjusted for non-recurring costs, came to 59 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The electric and gas utility posted revenue of $1.95 billion in the period.
Fortis shares have increased 9% since the beginning of the year. The stock has climbed 17% in the last 12 months.
Fortis Inc Reports Strong First Quarter 2021 Results padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
Fortis Q1 Profit Rises, Tops Estimates; Says Outlook Positive
OTTAWA (dpa-AFX) - Electric and gas utility Fortis Inc. (FTS, FTS.TO) reported Wednesday that its first-quarter net earnings attributable to equity shareholders were C$355 million or C$0.76 per share, higher than last year s C$312 million.
Adjusted net earnings attributable to equity shareholders were C$360 million or C$0.77 per share, compared to C$315 million or C$0.68 per share a year ago.
On average, 14 analysts polled by Thomson Reuters expected earnings of C$0.75 per share. Analysts estimates typically exclude special items.
The company said the growth in earnings per share was driven primarily by increased rate base and higher earnings in Arizona.
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With summer just around the corner, now is as good a time as any for long-term income investors to make adjustments to their portfolio. Today, I’ll be discussing three top stocks on the
TSX right now which have an exceptional track record of consistent dividend growth.
Here we go.
For long-term income investors approaching or in retirement,
Fortis Inc.(TSX:FTS)(NYSE:FTS) remains a top pick. This electricity utilities company has been a top pick of mine for quite some time.
Indeed, the company’s consistent dividend growth and reasonable valuation make it an excellent option for investors. Fortis generates a major portion of its cash flow from its regulated utilities business, which provides investors with a tremendous amount of stability over the long term.