Key Highlights

  • 28.8 billion Canadian dollars is Fortis (NYSE:FTS)'s current five-year Capital plan, and the company will release a new 2027 to 2031 outlook with third-quarter results on November 3, 2026.
  • The screener consensus is 0.88 of EPS, about 0.10 above the June quarter's 0.78 Canadian dollars (simple arithmetic, currency of the screener figure unverified), with the call set for 8:30 a.m. ET.
  • The company release forecasts rate base growing from 42.4 billion Canadian dollars in 2025 to 57.9 billion in 2030, a compound rate of about 7 percent.
  • Fortis guides to annual Dividend growth of 4 percent to 6 percent through 2030, and S&P and Fitch both reported stable outlooks on its Credit ratings in 2026.

What Fortis Reports on November 3

Fortis will release third-quarter 2026 results and its 2027 to 2031 capital outlook on Tuesday, November 3, 2026, with a call at 8:30 a.m. ET; the screener shows a Market Value of about USD 29.89 billion. In the June quarter, common Equity Earnings were 396 million Canadian dollars, or 0.78 per share, up 0.02, and first-half EPS was 1.76, flat. The 2026 capital plan is 5.6 billion Canadian dollars, with 2.7 billion invested in the first half. Divestitures of the Turks and Caicos and Belize businesses are expected to trim full-year EPS by about 0.05. Credit ratings from S&P and Fitch were both reported with stable outlooks, which supports the funding of the capital plan.

How a Regulated Utility Grows

A regulated utility earns an allowed return on its rate base, the invested capital approved by regulators, so a larger capital plan lifts earnings only if the Assets enter rates. That is why the new five-year plan matters more than one quarter. Recent projects include a 200 megawatt, 800 megawatt-hour battery at Tucson Electric Power placed in service in June 2026. British Columbia also approved Tilbury Phase 1B on July 24, 2026, with a cost allowance of up to 2.2 billion Canadian dollars; about 350 million is in the current plan, construction could start as early as mid-2027 and service as early as 2031. S&P affirmed an A minus issuer rating, with a stable outlook. Higher UNS Energy retail sales helped June earnings.

Bull Case, Bear Case and Peers

In the bull case, the new plan is larger than 28.8 billion Canadian dollars, rate base growth holds near 7 percent and the dividend path is reaffirmed. In the bear case, funding needs, higher borrowing costs or rate case lag weigh on returns. Peers have not yet reported: Emera releases on November 6, 2026 and Hydro One on November 10, 2026, so no read-across was available. No options-implied move was verified; as labeled arithmetic, a 3 percent move on USD 29.89 billion is about USD 0.9 billion. Utilities tend to move less on quarterly EPS than on guidance, so the plan update is the main event.

Where Things Stand

The utility owner is Fortis (NYSE:FTS), and the answer to what it will reveal is a refreshed 2027 to 2031 capital outlook alongside third-quarter results. Evidence is steady rather than dramatic: earnings grew slightly in June, the rate base path implies about 7 percent growth, and ratings are stable. The next catalysts are the November 3, 2026 release and call, then Emera on November 6 and Hydro One on November 10 for sector context.