From RTTNews:

Fortis Inc. reported fourth quarter net earnings of C$381 million, or C$0.78 per share, compared to C$370 million or C$0.77 per share for the same period in 2022. The increase was due to rate base growth, higher retail revenue in Arizona, and new cost of capital parameters at FortisBC. Adjusted net earnings were C$350 million, or C$0.72 per common share.

Fortis expects long-term growth in rate base will drive earnings that support dividend growth guidance of 4-6% annually through 2028.

Overall, the company beat analysts’ expectations for the quarter, with 12 analysts polled by Thomson Reuters expecting the company to report profit per share of C$0.71.

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