Fortis Inc reports results for the quarter ended March 31 - Earnings Summary

• Fortis Inc FTS.TO reported quarterly adjusted earnings of C$1.00​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 93 cents. The mean expectation of eleven analysts for the quarter was for earnings of 97 cents per share. Wall Street expected results to range from 94 cents to C$1.01 per share.

• Revenue rose 7.1% to C$3.34 billion from a year ago; analysts expected C$3.32 billion.

• Fortis Inc's reported EPS for the quarter was C$1.00​.

• The company reported quarterly net income of C$499 million.

• Fortis Inc shares had risen by 7.6% this quarter and gained 18.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts was unchanged in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 7 "hold" and 4 "sell" or "strong sell." The average consensus recommendation for the electric utilities peer group is also "hold"

• Wall Street's median 12-month price target for Fortis Inc is $43.19

This summary was machine generated from LSEG data May 7 at 01:31 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)