Fortis Shares Soar 1.15% on Earnings Beat

Fortis (FTS) shares surged 1.15% today, marking the second consecutive day of gains, with a total increase of 1.67% over the past two days. The stock price reached its highest level since June 2022, with an intraday gain of 1.57%.

Fortis' stock price has been positively influenced by its consistent track record of exceeding earnings estimates. Over the past two quarters, the company has shown a strong performance in surpassing earnings predictions, with an average beat of 4.30%. In the last two quarters, Fortis reported earnings of $0.59 and $0.62 per share, which exceeded the Zacks Consensus Estimates of $0.57 and $0.59 per share, respectively. This consistent outperformance has bolstered investor confidence in the company's financial health and growth prospects.

Looking ahead, Fortis is poised for another strong earnings report on May 7, 2025. The company currently has a positive Earnings ESP of +4.80%, indicating bullish analyst sentiment towards its earnings prospects. This, combined with a Zacks Rank #3 (Hold), suggests a high likelihood of a positive earnings surprise. Investors are optimistic about Fortis' ability to continue its streak of beating earnings estimates, which could further drive the stock price higher in the coming days.