Fortis management commentary: Rate base growth drives Q3 2026 earnings increase
FTS•Fortis said third-quarter 2026 adjusted earnings rose CAD 33 million, with adjusted earnings per share increasing to CAD 0.92 from CAD 0.87. Year-to-date adjusted earnings increased CAD 47 million.
1. Quarterly earnings growth
Fortis management attributed the third-quarter adjusted earnings increase of CAD 33 million to rate base expansion across its utilities. Higher retail electricity sales and operating-cost timing boosted UNS Energy earnings, partly offset by growth-related costs not yet reflected in customer rates. The 2025 utility disposals and higher holding-company financing costs constrained earnings growth.
2. Year-to-date results
Year-to-date adjusted earnings increased CAD 47 million, supported by rate base growth and cost timing at Central Hudson despite weaker wholesale margins.
