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

Fortis

03/05/2023 14:31

* Fortis Inc  FTS.TO  reported quarterly adjusted earnings
of 91
cents​​ per share for the quarter ended in March. The mean
expectation of fourteen analysts for the quarter was
for earnings of 82 cents per share.
    * Revenue rose 17.1% to C$3.32 billion from a year ago;
analysts
expected C$3.10 billion. 
    * Fortis Inc's reported EPS for the quarter was 90 cents​.
    * The mean earnings estimate of analysts had fallen by
about 2.2%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates 
    * Fortis Inc shares had risen by 3.7% this quarter and
gained 10.0% so far this year.
    * The company reported quarterly net income of C$437
million.
    * Wall Street's median 12-month price target for Fortis Inc
is
C$58.50 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 9
"hold" and 4 "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data May
3 at 01:31 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2023      0.82           0.91           Beat
 Dec. 31 2022      0.70           0.72           Beat
 Sep. 30 2022      0.68           0.71           Beat
 Jun. 30 2022      0.60           0.57           Missed