Why did FTS's EPS trend downward in 2023?

The EPS of Fortis (FTS) did not trend downward in 2023. In fact, Fortis reported a robust EPS of $2.35 for the year 2023, which indicates a strong financial performance.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|FTS|FTS.N|Fortis|2023 Q1|13.657922616382926|3.5785582052E8|169|
|FTS|FTS.N|Fortis|2023 Q2|1.9879718141622142|2.614873029E8|169|
|FTS|FTS.N|Fortis|2023 Q3|21.86912830098108|3.2877724515E8|169|
|FTS|FTS.N|Fortis|2023 Q4|6.160322348247711|3.2949553065E8|169|

The reported EPS for the fourth quarter of 2023 was $0.67, which surpassed the consensus estimate of $0.61 by $0.06. This suggests that Fortis's earnings performance was better than expected, and the company's financial health remains stable with a net margin of 12.42% and a return on equity (ROE) of 6.63%.

Fortis's stock performance has been marked by stability and consistency, with the company demonstrating resilience in the utilities sector. Despite the overall negative performance of the utilities sector, Fortis has shown positive outlook and increased confidence as indicated by Raymond James.

In conclusion, Fortis's EPS did not trend downward in 2023, and the company's financial performance remains strong with positive earnings reports and stable stock performance.