Fortis Inc.: Third Quarter 2024 Results and Capital Plan Update

Fortis Inc. (TSX/NYSE: FTS), a leading North American regulated electric and gas utility, will host a teleconference on November 5, 2024, to discuss its third quarter 2024 financial results. This article provides an overview of the company's recent performance, capital plan, and dividend growth, as well as key takeaways from its 2024 Climate Report.


**Third Quarter 2024 Results**

Fortis Inc. is expected to report its third quarter 2024 financial results on November 5, 2024. While the company has not yet released its official results, investors can anticipate insights into its operational performance and financial health during the teleconference.


**Capital Plan Update**

In October 2024, Fortis Inc. announced its largest five-year capital plan to date, totaling $26 billion. This plan aims to achieve a 6.5% annual rate base growth through 2029, driven by significant transmission and customer growth investments. The plan includes a 4.2% increase in the fourth quarter dividend, marking 51 consecutive years of dividend growth, with guidance for 4-6% annual dividend growth through 2029.


**Climate Report Takeaways**

Fortis Inc.'s 2024 Climate Report highlights the company's commitment to reducing its carbon footprint and transitioning to a low-carbon future. Key takeaways from the report include:

1. A 30% reduction in greenhouse gas emissions intensity by 2030 compared to 2019 levels.
2. Increased investment in renewable energy, energy efficiency, and grid modernization.
3. Collaboration with stakeholders to develop and implement innovative climate solutions.


In conclusion, Fortis Inc.'s third quarter 2024 results and capital plan update demonstrate the company's commitment to growth, sustainability, and shareholder value. As investors await the official results, they can expect insights into the company's operational performance, financial health, and long-term strategic vision. The teleconference on November 5, 2024, will provide an opportunity for shareholders, analysts, and other interested parties to engage with Fortis Inc.'s leadership and gain a deeper understanding of the company's prospects.