Fortis Inc reports results for the quarter ended in June - Earnings Summary

Fortis

02/08/2023 14:31

* Fortis Inc  FTS.TO  reported quarterly adjusted earnings
of 62
cents​​ per share for the quarter ended in June. The mean
expectation of fifteen analysts for the quarter was for earnings
of 61 cents per share.
    * Revenue rose 4.3% to C$2.59 billion from a year ago;
analysts
expected C$2.62 billion. 
    * Fortis Inc's reported EPS for the quarter was 61 cents​.
    * The mean earnings estimate of analysts had fallen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates 
    * Fortis Inc shares had fallen by 2.7% this quarter and
gained 2.5% so far this year.
    * The company reported quarterly net income of C$294
million.
    * Wall Street's median 12-month price target for Fortis Inc
is
C$61.00 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 10
"hold" and 4 "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
August 2 at 01:30 p.m. UTC. ​All figures in Canadian dollars
unless otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      0.61           0.62           Beat
 Mar. 31 2023      0.82           0.91           Beat
 Dec. 31 2022      0.70           0.72           Beat
 Sep. 30 2022      0.68           0.71           Beat