WASHINGTON (dpa-AFX) - Fortis Inc. (FTS, FTS.TO) 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 company said the increase was
due to rate base growth, higher retail revenue in Arizona due to new customer
rates at TEP, and the new cost of capital parameters at FortisBC. Adjusted net
earnings were C$350 million, or C$0.72 per common share compared to C$347
million or C$0.72 per share. On average, 12 analysts polled by Thomson Reuters
expected the company to report profit per share of C$0.71, for the quarter.
Analysts' estimates typically exclude special items.

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

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