By Robb M. Stewart
Fortis earnings rose in the first quarter of the year, lifted by increased base rates across the Canadian company's utilities and with a tailwind from a higher exchange rate for the dollar against the Canadian currency.
The holding company, which has electricity and natural-gas operations in North America and the Caribbean, said on Wednesday that it recorded earnings attributable to shareholders of 499 million Canadian dollars ($362.2 million), or C$1 a share, for the three months against C$459 million, or C$0.93 a share, a year earlier.
The St. John's, Newfoundland, company's revenue for the quarter was up 7.1% to C$3.34 billion, beating the C$3.13 billion analysts polled by FactSet expected.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 07, 2025 06:52 ET (10:52 GMT)
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