Canadian electric and gas utility company reports $501M Q1 profit

Fortis Place in downtown St. John's, N.L., is seen. THE CANADIAN PRESS/ Paul Daly

ST. JOHN’S — Fortis Inc. reported a first-quarter profit attributable to common equity holders of $501 million, up from $499 million a year earlier.

The electric and gas utility company says the profit amounted to 99 cents per diluted share, down from $1 per diluted share a year ago when it had fewer shares outstanding.

Revenue for the quarter totalled $3.40 billion, up from $3.34 billion.

Capital spending for the quarter amounted to $1.36 billion, down from $1.42 billion in the first quarter of 2025.

Fortis chief executive David Hutchens says the results were in line with the company’s expectations and reflected its diversified business and the continued execution of its low-risk capital plan.

Fortis has utility customers in five provinces, 10 U.S. states and the Cayman Islands.

This report by The Canadian Press was first published May 6, 2026.

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• Electric and gas utility Fortis reports $422M Q4 profit, up from $396M a year earlier