Fortis: 2Q Earnings Snapshot
ST. JOHN’S, Newfoundland (AP) _ Fortis Inc. (FTS) on Friday reported second-quarter profit of $232.5 million.
The St. john’S, Newfoundland-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring costs, were 55 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The electric and gas utility posted revenue of $1.82 billion in the period.
Fortis shares have increased 19% since the beginning of the year. The stock has increased 21% in the last 12 months.