The following is a summary of the Fortis, Inc. (FTS) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Fortis, Inc. reported a Q2 2024 adjusted EPS of $0.67, which is $0.05 higher than the adjusted EPS last year.

• Year-to-date June reported and adjusted EPS was $1.60, resulting in an increase in adjusted EPS of $0.07 year-over-year.

Business Progress:

• Fortis continues its $4.8 billion annual capital plan focusing on regulated investments and clean energy.

• The completion of the 1,800 kilometer Wataynikaneyap Power Transmission Project highlights the company's commitment to environmental sustainability and community benefits.

• Regulatory advancements include the Iowa Supreme Court's approval allowing ITC to proceed with construction projects, impactful for sustaining regulatory growth.

Opportunities:

• Fortis anticipates continued regulated growth and the exploration of new opportunities in transmission investment, positioned to capitalize on clean energy transition and load growth trends.

Risks:

• Potential regulatory and legal challenges in advancing transmission projects, as seen in the Iowa Supreme Court proceedings, could impact project timelines and investment certainty.

More details: Fortis IR

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