Fortis stock reports higher Q2 earnings as estimates are trimmed

Published on 10/05/2026 at 09:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortis stock closed at CAD 75.31 on October 2, 2026, as the utility reported higher quarterly EPS. Analysts see a CAD 79.23 average target.

FTS, CA3495531079, Illustration mit AI erstellt.

Fortis stock (ISIN CA3495531079) closed at CAD 75.31 on the Toronto Stock Exchange on October 2, 2026, up 0.32 percent for the session. The Canadian utility's second-quarter net earnings rose to CAD 396 million, while earnings per common share increased to CAD 0.78 from CAD 0.76 a year earlier.

Q2 earnings support capital spending

According to Fortis in its July 31, 2026 results release, rate-base growth and higher retail electricity sales contributed to the quarterly earnings increase. Six-month net earnings reached CAD 897 million, CAD 14 million above the first half of 2025, while six-month EPS was CAD 1.76.

The company invested CAD 2.7 billion during the first half of 2026 and kept its CAD 5.6 billion annual capital plan on track, according to GlobeNewswire. Fortis also maintains a CAD 28.8 billion capital plan for 2026 through 2030, a spending path designed to expand its regulated asset base.

Analysts trim estimates

The latest analyst signal is more cautious. MarketBeat reported on October 1, 2026, that Scotiabank lowered its fiscal 2026 EPS estimate to CAD 3.62 from CAD 3.63. The same report said Barclays cut its price target from CAD 82.00 to CAD 76.00 on September 30, 2026.

At the broader analyst level, MarketBeat lists a Moderate Buy consensus from 10 analysts, with five Buy and five Hold ratings. The average target is CAD 79.23, with a high of CAD 85.00 and a low of CAD 70.00. The average target lies 5.2 percent above the October 2 price.

Stock remains below yearly high

Fortis stock finished October 2 at CAD 75.31, with a session range of CAD 74.85 to CAD 75.90 and volume of 953,840 shares. Its 52-week range was CAD 69.06 to CAD 83.75, leaving the price CAD 8.44 below the yearly high.

Fintel lists October 23, 2026, as Fortis's scheduled next earnings date. That report also placed the company's consensus target mean at CAD 85.98 as of September 14, 2026, a separate estimate from the current MarketBeat consensus.

Fortis stock data

Fortis stock had a market capitalization of CAD 38.5 billion as of October 2, 2026. Its regulated utility portfolio serves more than 3.4 million electricity and natural gas customers across Canada, the United States and the Caribbean.