Electric and gas utility Fortis Inc. (FTS,FTS.TO) reported fourth quarter net earnings attributable to common equity shareholders of C$370 million or C$0.77 per share, up from C$328 million or C$0.63 per share in the prior-year quarter.
On an adjusted basis, net earnings attributable to common equity shareholders were C$347 million or C$0.72 per share, compared to C$300 million or C$0.63 per share in the year-ago quarter.
On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of C$0.71 per share for the quarter. Analysts' estimates typically exclude special items.
Fortis expects its long-term growth in rate base will drive earnings that support dividend growth guidance of 4-6% annually through 2027.
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