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Fortis Inc (Fortis) is an oil and gas company that provides the development of assets and market capitalization programs. The company offers measurement and monitoring of environmental impacts. It also provides capital programs and growth plans to meet energy needs. Fortis support and participate in community-based environmental projects. The company collaborates with industry associations, government and other stakeholders to establish standards for the environment appropriate to the utilities and business. It serves across Canada and the US, among others. Fortis is headquartered in St. John's, Newfoundland and Labrador, Canada.
Headquarters
Canada
Address
Suite 1100, 5 Springdale Street, Fortis Place, St. Johns, Newfoundland and Labrador, A1B3T2
Website
www.fortisinc.com
Telephone
1 709 7372800
No of Employees
9,598
Industry
Power
Ticker Symbol & Exchange
FTS (TSE)
Revenue (2022)
$8.5B
4.3%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
12.8%
(2022 vs 2021)
Market Cap*
$18.7B
Net Profit Margin (2023)
XYZ
8.2%
(2022 vs 2021)
* As of and is in US$
Fortis Inc premium industry data and analytics
Products and Services
| Services |
|---|
| Capital Program and Growth Plans |
| Measurement and Monitoring of Environmental Impacts |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Divestiture | In November, the company completed the sale of its 93.8% interest in the Aitken Creek Natural Gas Storage Facility in British Columbia and its 100% interest in the Aitken Creek North Gas Storage Facility to a subsidiary of Enbridge for approximately US$400 million. |
| 2023 | Contracts/Agreements | In May, the company entered into an agreement to sell its ownership in two gas storage facilities in British Columbia to Enbridge Inc, for US$400 million. |
| 2023 | Contracts/Agreements | In May, the company chose Lords Group as the preferred delivery partner for the $12m+ Early Works package. |
Competitor Comparison
| Key Parameters | Fortis Inc | TC Energy Corporation | BC Hydro | Ontario Power Generation Inc | TransAlta Corp |
|---|---|---|---|---|---|
| Headquarters | Canada | Canada | Canada | Canada | Canada |
| City | St. Johns | Calgary | Vancouver | Toronto | Calgary |
| State/Province | Newfoundland and Labrador | Alberta | British Columbia | Ontario | Alberta |
| No. of Employees | 9,598 | 7,415 | - | 10,595 | 1,257 |
| Entity Type | Public | Public | Private | Private | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Jo Mark Zurel | Chairman | Executive Board | 2023 | - |
| David G. Hutchens | Director; Chief Executive Officer; President | Executive Board | 2021 | - |
| Jocelyn H. Perry | Executive Vice President; Chief Financial Officer | Senior Management | - | - |
| Ronald J. Hinsley | Vice President; Chief Information Officer | Senior Management | - | - |
| James R Reid | Chief Legal Officer; Executive Vice President - Sustainability | Senior Management | 2022 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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