Fortis reports $381M Q4 profit, up from $370M a year earlier

ST. JOHN’S, N.L. – Fortis Inc. reported a fourth-quarter profit of $381 million, up from $370 million a year earlier.

The electric and gas utility says the profit amounted to 78 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of 77 cents per diluted share in the last three months of 2022.

Revenue for the quarter totalled $2.89 billion, down from $3.17 billion in the same quarter a year earlier.

On an adjusted basis, Fortis says it earned 72 cents per share, the same as its fourth quarter of 2022.

Fortis has 3.5 million utility customers in five Canadian provinces, 10 U.S. states and three Caribbean countries.

This report by The Canadian Press was first published Feb. 9, 2024.

Companies in this story: (TSX:FTS)