Overview
Fortis is a well-diversified leader in the North American regulated electric and gas utility with total assets of about $69 billion. Its about 10 utilities, most of which are the sole supplier of electricity or gas in its respective territories, serve about 3.5 million customers across five Canadian provinces, ten US states, and three Caribbean countries. Fortis is principally an energy delivery company, with nearly 95% of its assets related to transmission
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Read More and distribution. Primary subsidiaries include ITC, UNS Energy, and Central Hudson in the US; FortisBC Energy, FortisAlberta, and Newfoundland Power in Canada; and Caribbean Utilities and FortisTCI in the Caribbean. Fortis has grown significantly in recent years as a result of acquisitions. About 55% of its revenue was generated in the US.
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Read More and distribution. Primary subsidiaries include ITC, UNS Energy, and Central Hudson in the US; FortisBC Energy, FortisAlberta, and Newfoundland Power in Canada; and Caribbean Utilities and FortisTCI in the Caribbean. Fortis has grown significantly in recent years as a result of acquisitions. About 55% of its revenue was generated in the US.
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David G Hutchens
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Actual
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Actual
$8.38 billion
Actual
-0.08%
6.8%
$73,486
DEC
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Toronto:FTS
Contacts
Get in Touch with 23 Principals* and 213 Contacts
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David G HutchensPresident and Member of the Board of Directors
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Financial Statements
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Financial data as of December 31, 2023 (12 month period) in USD
Annual Revenue 2024
$8.38 billion
USD
Actual
1 USD = 1.3736 CAD
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net Operating Cash | $2,826 | $2,581 | $2,238 |
| Net Investing Cash | -$3,928 | -$2,724 | -$2,955 |
| Net Financing Cash | $775 | $446 | $753 |
| Net Change in Cash | -$327 | $303 | $36 |
| Cash at Beginning of Period | $455 | $152 | $95 |
| Cash at End of Period | $160 | $455 | $152 |
| Capital Expenditure | -$3,799 | -$3,035 | -$2,814 |
| Assets (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $160 | $455 | $152 |
| Accounts Receivable | $735 | $648 | $677 |
| Inventories | $499 | $412 | $481 |
| Other Current Assets | $1,370 | $1,415 | $1,797 |
| Asset Summary | |||
| Total Current Assets | $2,763 | $2,930 | $3,108 |
| Tangible Fixed Assets | $36,051 | $31,622 | $30,362 |
| Intangible Assets | $1,209 | $1,099 | $1,127 |
| Total Assets | $73,486 | $65,920 | $64,252 |
| Liabilities (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $816 | $721 | $645 |
| Short-Term Debt | $1,520 | $1,758 | $1,990 |
| Other Current Liabilities | $2,058 | $1,863 | $2,182 |
| Liability Summary | |||
| Total Current Liabilities | $4,394 | $4,342 | $4,817 |
| Long-Term Debt | $22,731 | $19,827 | $18,878 |
| Other Long-Term Liabilities | $44 | $47 | $55 |
| Total Liabilities | $34,677 | $31,004 | $30,147 |
| Stakeholder's Equity (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity | |||
| Common Stock | $11,349 | $10,999 | $10,670 |
| Retained Earnings | $3,291 | $2,994 | $2,718 |
| Equity Summary | |||
| Total Equity | $17,332 | $15,656 | $15,310 |
| Shares Outstanding | 499,301,105 | 490,588,502 | 482,150,634 |