Fortis Inc. (T:FTS)
Business Focus: Electric Utilities (NEC)
| Sector: Utilities | Industry: Electric Utilities |
| Company Contact | |
| Address: | 5 Springdale Street Fortis Place, Suite 1100 ST. JOHNS NL A1B 3T2 |
| Tel: | N/A |
| Website: | https://www.fortisinc.com |
| IR: | See website |
| Key People | ||
| David Gerard Hutchens President, Chief Executive Officer, Director | Tanya N. Finlay Vice President - People and Culture | Jocelyn H. Perry Chief Financial Officer, Executive Vice President |
| James R. Reid Executive Vice President, Sustainability and Chief Legal Officer | Gary J. Smith Executive Vice President - Operations and Innovation | Stuart I. Lochray Senior Vice President - Capital Markets and Business Development |
| Ronald J. Hinsley Chief Information Officer, Vice President | Karen J. Gosse Vice President - Finance | Regan P. O'Dea Vice President, General Counsel | Julie M. Avery Vice President, Controller |
| Business Overview |
| Fortis Inc. is a Canada-based diversified regulated electric and gas utility holding company. The Company's regulated utility businesses includes ITC Investment Holdings Inc., ITC Holdings Corp. and the electric transmission operations of its regulated operating subsidiaries, which include International Transmission Company, Michigan Electric Transmission Company, LLC, ITC Midwest LLC and ITC Great Plains, LLC; UNS Energy Corporation, which primarily includes Tucson Electric Power Company (TEP), UNS Electric, Inc. and UNS Gas, Inc.; CH Energy Group, Inc, which primarily includes Central Hudson Gas and Electric Corporation; FortisBC Energy Inc.; FortisAlberta Inc. and FortisBC Inc. The Company's non-regulated businesses include energy infrastructure and corporate and other. |
| Financial Overview |
| For the three months ended 31 March 2024, Fortis Inc revenues decreased 6% to C$3.12B. Net income applicable to common stockholders increased 5% to C$459M. Revenues reflect FortisBC Energy segment decrease of 25% to C$561M, Central Hudson segment decrease of 15% to C$375M. Net Income benefited from ITC segment income increase of 8% to C$305M, FortisBC Energy segment income increase of 9% to C$220M. |
| Employees: | 9,598 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $57,903M as of Mar 31, 2024 |
| Annual revenue (TTM): | $11,316M as of Mar 31, 2024 |
| EBITDA (TTM): | $4,934M as of Mar 31, 2024 |
| Net annual income (TTM): | $1,528M as of Mar 31, 2024 |
| Free cash flow (TTM): | -$1,709M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $30,383M as of Mar 31, 2024 |
| Shares outstanding: | 493,000,000 as of Mar 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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