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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