Fortis unveils $32.2 billion five‑year capital plan, 12% larger than prior
Fortis Inc. reported third‑quarter 2026 adjusted earnings per share of $0.92, up from $0.87 a year earlier. The utility announced a $32.2 billion capital plan for 2027‑2031, $3.4 billion higher than its previous agenda. The plan targets a 7.5% compound annual growth in rate base and allocates about 75% of spending to regulated transmission and distribution projects. The company said the expanded program underpins its 4‑6% annual dividend‑growth guidance through 2031.
Why it matters
The larger capex budget raises Fortis' long‑term rate‑base, which could support continued dividend growth as the company stated. However, the higher 2026 capital‑expenditure forecast of $6.0 billion may increase cash‑outflows in the near term.
Key facts
- 1Adjusted EPS for Q3 2026 was $0.92, up from $0.87 in Q3 2025. investing.com
- 2Fortis announced a five‑year capital plan of $32.2 billion for 2027‑2031, $3.4 billion higher than the prior plan. investing.com
- 3The capital plan represents a 12% increase over the previous five‑year plan. investing.com
- 4Full‑year 2026 capital expenditures are now forecast at $6.0 billion. investing.com
- 5The plan targets a 7.5% compound annual growth rate in rate base through 2031. investing.com
- 6Approximately 75% of the $32.2 billion plan is directed toward transmission and distribution regulated projects. saltwire.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.