Fortis Inc. reports results for the quarter ended September 30 - Earnings Summary

• Fortis Inc. FTS.TO reported quarterly adjusted earnings of 92 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 81 cents. The mean expectation of thirteen analysts for the quarter was for earnings of 88 cents per share. Wall Street expected results to range from 84 cents to 91 cents per share.

• Revenue rose 6% to C$3.12 billion from a year ago; analysts expected C$3.03 billion.

• Fortis Inc.'s reported EPS for the quarter was 92 cents​.

• The company reported quarterly net income of C$474 million.

• Fortis Inc. shares had risen by 12.2% this quarter and gained 14.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 3.2% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy," 7 "hold" and 2 "sell" or "strong sell."

• Wall Street's median 12-month price target for Fortis Inc. is $55.28, about 7.3% below its last closing price of $59.29

This summary was machine generated from LSEG data November 3 at 02:31 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)