See more : GFC. LTD. (4506.TWO) Income Statement Analysis – Financial Results
Complete financial analysis of Fortis Inc. (FTS) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Fortis Inc., a leading company in the Regulated Electric industry within the Utilities sector.
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Fortis Inc. (FTS)
About Fortis Inc.
Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,065,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 577,000 customers in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 143 MW; and on Prince Edward Island with a generating capacity of 130 MW. Additionally, it provides integrated electric utility service to approximately 68,000 customers in Ontario; approximately 272,000 customers in Newfoundland and Labrador; approximately 32,000 customers on Grand Cayman, Cayman Islands; and approximately 16,000 customers on certain islands in Turks and Caicos. The company also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,200 circuit Kilometers (km) of distribution lines; and approximately 50,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11.52B | 11.04B | 9.45B | 8.94B | 8.78B | 8.39B | 8.30B | 6.84B | 6.73B | 5.40B | 4.05B | 3.65B | 3.75B | 3.66B | 3.64B | 3.90B | 2.72B | 1.47B | 1.44B | 1.15B | 843.08M | 715.47M | 628.25M | 584.58M | 505.22M | 474.35M | 493.83M | 474.30M | 447.04M |
| Cost of Revenue | 6.66B | 3.95B | 2.95B | 2.56B | 2.52B | 2.50B | 2.36B | 2.34B | 2.56B | 2.20B | 1.62B | 1.52B | 1.70B | 1.69B | 1.80B | 2.11B | 1.29B | 540.49M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 243.12M | 0.00 | 230.10M |
| Gross Profit | 4.86B | 7.09B | 6.50B | 6.37B | 6.26B | 5.90B | 5.94B | 4.50B | 4.17B | 3.20B | 2.43B | 2.13B | 2.05B | 1.98B | 1.84B | 1.79B | 1.43B | 931.25M | 1.44B | 1.15B | 843.08M | 715.47M | 628.25M | 584.58M | 505.22M | 474.35M | 250.71M | 474.30M | 216.94M |
| Gross Profit Ratio | 42.17% | 64.21% | 68.77% | 71.33% | 71.31% | 70.26% | 71.56% | 65.76% | 61.93% | 59.32% | 60.04% | 58.35% | 54.71% | 53.98% | 50.54% | 45.89% | 52.65% | 63.28% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 50.77% | 100.00% | 48.53% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 62.00M | 92.00M | 45.00M | 31.00M | 11.00M | 1.00M | 11.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 1.71B | 4.35B | 4.03B | 3.87B | 3.80B | -17.00M | 9.00M | 2.00M | -3.00M | 1.00M | 1.58B | 1.00M | 40.00M | 1.24B | 1.00M | 1.09B | 890.00M | 576.10M | 1.09B | 882.28M | 642.26M | 542.35M | 481.07M | 471.18M | 401.89M | 382.98M | 145.85M | 0.00 | 122.91M |
| Operating Expenses | 1.77B | 4.35B | 4.03B | 3.87B | 3.80B | 3.53B | 3.44B | 3.01B | 2.74B | 2.18B | 1.58B | 1.34B | 1.28B | 1.24B | 1.14B | 1.09B | 890.00M | 576.10M | 1.09B | 882.28M | 642.26M | 542.35M | 481.07M | 471.18M | 401.89M | 382.98M | 145.85M | 0.00 | 122.91M |
| Cost & Expenses | 8.43B | 8.30B | 6.98B | 6.43B | 6.32B | 6.03B | 5.80B | 5.36B | 5.30B | 4.38B | 3.20B | 2.86B | 2.98B | 2.92B | 2.94B | 3.20B | 2.18B | 1.12B | 1.09B | 882.28M | 642.26M | 542.35M | 481.07M | 471.18M | 401.89M | 382.98M | 388.97M | 0.00 | 353.00M |
| Interest Income | 76.00M | 11.00M | 5.00M | 13.00M | 16.00M | 15.00M | 14.00M | 7.00M | 8.00M | 13.00M | 7.00M | 5.00M | 4.00M | 0.00 | 0.00 | 2.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 1.31B | 1.10B | 1.00B | 1.04B | 1.04B | 974.00M | 914.00M | 639.00M | 553.00M | 547.00M | 389.00M | 366.00M | 370.00M | 350.00M | 361.00M | 361.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 1.77B | 1.67B | 1.51B | 1.43B | 1.35B | 1.24B | 1.18B | 983.00M | 873.00M | 688.00M | 541.00M | 470.00M | 422.00M | 408.00M | 360.00M | 348.00M | 273.00M | 177.51M | 158.72M | 115.66M | 62.75M | 65.38M | 62.73M | 52.76M | 45.66M | 43.04M | 42.25M | 0.00 | 38.00M |
| EBITDA | 5.15B | 4.50B | 4.02B | 3.97B | 3.82B | 3.61B | 3.65B | 2.60B | 2.30B | 1.74B | 1.39B | 1.27B | 1.23B | 1.16B | 1.07B | 1.05B | 814.00M | 532.66M | 515.18M | 379.50M | 263.57M | 238.50M | 209.91M | 162.59M | 148.99M | 133.30M | 147.11M | 474.30M | 132.03M |
| EBITDA Ratio | 44.70% | 41.73% | 42.76% | 45.63% | 44.64% | 43.72% | 45.54% | 36.27% | 34.64% | 32.14% | 34.79% | 34.76% | 32.77% | 31.39% | 29.31% | 26.85% | 29.95% | 36.19% | 35.74% | 33.11% | 31.26% | 33.33% | 33.41% | 28.42% | 29.49% | 28.34% | 29.79% | 100.00% | 29.54% |
| Operating Income | 3.08B | 2.74B | 2.47B | 2.51B | 3.04B | 2.37B | 2.50B | 1.48B | 1.43B | 1.02B | 852.00M | 794.00M | 766.00M | 740.00M | 701.00M | 700.00M | 541.00M | 355.15M | 356.46M | 263.84M | 200.82M | 173.12M | 147.18M | 113.40M | 103.33M | 91.37M | 104.86M | 474.30M | 94.03M |
| Operating Income Ratio | 26.78% | 24.81% | 26.13% | 28.07% | 34.59% | 28.19% | 30.12% | 21.69% | 21.24% | 18.94% | 21.05% | 21.73% | 20.44% | 20.20% | 19.27% | 17.93% | 19.90% | 24.13% | 24.73% | 23.02% | 23.82% | 24.20% | 23.43% | 19.40% | 20.45% | 19.26% | 21.23% | 100.00% | 21.04% |
| Total Other Income/Expenses | -1.01B | -937.00M | -830.00M | -888.00M | -897.00M | -914.00M | -798.00M | -625.00M | -356.00M | -572.00M | -420.00M | -362.00M | -325.00M | -350.00M | -360.00M | -363.00M | -306.00M | -174.15M | -148.95M | -126.06M | -89.73M | -77.38M | -65.08M | -56.39M | -46.61M | -43.91M | -45.41M | -474.30M | -41.69M |
| Income Before Tax | 2.07B | 1.80B | 1.64B | 1.62B | 2.14B | 1.45B | 1.71B | 858.00M | 1.06B | 451.00M | 432.00M | 432.00M | 436.00M | 390.00M | 341.00M | 324.00M | 235.00M | 181.31M | 207.51M | 137.78M | 111.87M | 95.74M | 80.81M | 54.39M | 56.72M | 50.48M | 59.46M | 0.00 | 52.34M |
| Income Before Tax Ratio | 17.97% | 16.33% | 17.35% | 18.13% | 24.38% | 17.29% | 20.64% | 12.55% | 15.80% | 8.35% | 10.67% | 11.82% | 11.64% | 10.64% | 9.38% | 8.30% | 8.65% | 12.32% | 14.40% | 12.02% | 13.27% | 13.38% | 12.86% | 9.30% | 11.23% | 10.64% | 12.04% | 0.00% | 11.71% |
| Income Tax Expense | 360.00M | 289.00M | 234.00M | 231.00M | 289.00M | 165.00M | 588.00M | 145.00M | 223.00M | 66.00M | 32.00M | 61.00M | 80.00M | 67.00M | 49.00M | 65.00M | 36.00M | 32.54M | 70.42M | 46.93M | 38.24M | 32.49M | 28.09M | 17.63M | 27.48M | 23.07M | 29.45M | -36.40M | 20.33M |
| Net Income | 1.57B | 1.39B | 1.29B | 1.27B | 1.72B | 1.17B | 1.03B | 660.00M | 805.00M | 379.00M | 410.00M | 362.00M | 347.00M | 313.00M | 280.00M | 259.00M | 199.00M | 148.77M | 137.10M | 90.86M | 73.63M | 63.25M | 53.44M | 36.76M | 29.18M | 27.41M | 30.01M | 36.40M | 35.04M |
| Net Income Ratio | 13.66% | 12.62% | 13.70% | 14.26% | 19.61% | 13.90% | 12.38% | 9.65% | 11.97% | 7.02% | 10.13% | 9.91% | 9.26% | 8.54% | 7.70% | 6.64% | 7.32% | 10.11% | 9.51% | 7.93% | 8.73% | 8.84% | 8.51% | 6.29% | 5.78% | 5.78% | 6.08% | 7.67% | 7.84% |
| EPS | 2.96 | 2.78 | 2.61 | 2.60 | 3.79 | 2.75 | 2.32 | 1.89 | 2.61 | 1.41 | 1.74 | 1.66 | 1.71 | 1.65 | 1.54 | 1.56 | 1.40 | 1.42 | 1.35 | 1.07 | 1.06 | 0.97 | 0.90 | 0.68 | 0.56 | 0.53 | 0.60 | 0.59 | 0.63 |
| EPS Diluted | 3.10 | 2.78 | 2.61 | 2.60 | 3.78 | 2.74 | 2.31 | 1.89 | 2.59 | 1.40 | 1.73 | 1.65 | 1.70 | 1.62 | 1.51 | 1.52 | 1.32 | 1.37 | 1.24 | 1.01 | 1.02 | 0.96 | 0.90 | 0.68 | 0.56 | 0.53 | 0.60 | 0.59 | 0.63 |
| Weighted Avg Shares Out | 507.93M | 478.60M | 470.90M | 464.80M | 436.80M | 424.70M | 415.50M | 308.90M | 278.60M | 225.60M | 202.50M | 190.00M | 181.60M | 172.90M | 170.20M | 157.40M | 137.60M | 103.52M | 101.75M | 84.74M | 69.24M | 65.11M | 59.51M | 54.07M | 52.19M | 51.63M | 50.49M | 49.28M | 48.40M |
| Weighted Avg Shares Out (Dil) | 486.50M | 479.00M | 471.40M | 465.40M | 437.50M | 425.20M | 416.20M | 313.40M | 284.70M | 226.10M | 209.30M | 197.20M | 190.00M | 187.10M | 184.80M | 173.70M | 146.21M | 107.30M | 110.56M | 89.96M | 71.83M | 65.72M | 59.51M | 54.07M | 52.19M | 51.63M | 50.49M | 49.28M | 48.40M |
Fortis Inc. (FTS) Q1 2024 Earnings Call Transcript
Fortis (FTS) Beats Q1 Earnings Estimates
Fortis Inc. Releases First Quarter 2024 Results
Advisory: Fortis Inc. to Hold Teleconference on May 1 to Discuss First Quarter 2024 Results and Hold Annual and Special Meeting on May 2
Doubling Down On Telus In Smith Maneuver - March 2024 Dividend Income Report
55 April Dividend Kings: Buy 8, Watch 8
Fortis Inc. to Hold Teleconference on May 1 to Discuss First Quarter 2024 Results and Hold Annual and Special Meeting on May 2
55 March Dividend Kings: Buy 8; Watch 4
Fortis Inc. Releases 2024 Climate Report
4 Low-Beta Utility Stocks to Buy Amid Ongoing Market Volatility
Source: https://incomestatements.info
Category: Stock Reports