Mission Statement, Vision, & Core Values of Fortis Inc. (FTS)

Fortis Inc.'s foundational statements-its Mission, Vision, and Core Values-are not just corporate window dressing; they are the strategic blueprint that underpins its low-risk, regulated growth model, which is defintely the core of its value proposition.

You see this play out directly in the financials: their focus on regulated assets drives a projected $41.9 billion midyear rate base in 2025 and is the engine behind the $5.6 billion capital expenditure plan for the year. But how does a value like Delivering a Cleaner Energy Future translate into the 52 consecutive years of dividend increases you rely on, and what near-term execution risks does that massive $28.8 billion 2026-2030 capital plan introduce? Let's map the principles to the performance.

Fortis Inc. (FTS) Overview

You're looking for a clear, low-risk utility play, and Fortis Inc. (FTS) definitely fits that mold, but you need to see the latest numbers to justify the premium valuation. The direct takeaway is that Fortis, a diversified North American electric and gas utility holding company, continues to deliver stable, regulated earnings growth, evidenced by its Q3 2025 results and an expanded capital plan that secures future returns.

Fortis's history stretches back to 1885 with the St. John's Electric Light Company, but the modern holding company was formally established in 1987. Its core identity is a regulated utility operator, meaning its revenue streams are predictable, based on a regulated rate of return (ROR) approved by government bodies. This model is why they have one of the longest dividend-increase streaks in the industry-now standing at 52 consecutive years.

The company's primary service is energy delivery, specifically the transmission and distribution (T&D) of electricity and natural gas. This is a crucial distinction: 94% of their total assets are dedicated to T&D systems, which is the low-risk, regulated backbone of their business. Fortis serves approximately 3.5 million electricity and natural gas customers across 16 jurisdictions in Canada, the United States, and the Caribbean. For the trailing twelve months (TTM) ending September 30, 2025, the company's total revenue reached C$12.04 billion.

• Primary Product: Regulated electric and gas transmission and distribution.
• Customer Base: Serves 3.5 million customers across North America and the Caribbean.
• Current Sales (TTM): C$12.04 billion as of September 2025.

Q3 2025 Financial Performance: Stable Growth in Regulated Assets

The latest reporting period, the third quarter of 2025 (Q3 2025), released in early November 2025, shows the company's regulated model working exactly as designed. The total sales for Q3 2025 came in at C$2.94 billion, a solid increase from C$2.771 billion in the same quarter last year. This isn't a record-breaking revenue jump like you'd see in a tech stock, but for a utility, this steady climb is a sign of health and predictability. That stability is the main product here.

The real story is in the earnings and the capital deployment. Adjusted net earnings per common share for Q3 2025 were $0.87, up from $0.85 in Q3 2024. Here's the quick math: that $0.02 per share improvement was largely driven by regulated utility growth in the U.S. operations, specifically from increased transmission revenue at ITC Holdings Corp. and rate base growth at Central Hudson Gas & Electric.

This growth is directly tied to the company's massive investment program. Through September 2025, capital expenditures were $4.2 billion, with the full-year 2025 investment expected to hit $5.6 billion. This spending is what grows the rate base-the asset value on which regulators allow a return-and that's the engine for future earnings. They even unveiled an expanded $28.8 billion capital plan for 2026-2030, a $2.8 billion increase over the prior plan, which targets a 7.0% annualized rate base growth. This is a defintely clear roadmap for the next five years of dividend and earnings growth.

Fortis as a North American Utility Leader

Fortis Inc. is not just another utility; it is a diversified leader in the North American regulated electric and gas utility industry. With total assets valued at $75 billion as of September 30, 2025, the company has the scale and geographic diversity to withstand regional economic pressures. The business is nearly 100% regulated, which drastically reduces the volatility you see in companies exposed to merchant power or commodity trading.

The company's strategic focus on low-risk, regulated infrastructure projects-like the substantial investments at ITC Holdings Corp., the largest independent electric transmission company in the United States-ensures that capital spending translates directly into predictable earnings growth. This combination of scale, regulatory focus, and a clear, executable capital plan is why Fortis is often considered a cornerstone for income-focused portfolios. If you want to dive deeper into the nuts and bolts of how this company maintains such a stable financial profile and generates its revenue, you should read Fortis Inc. (FTS): History, Ownership, Mission, How It Works & Makes Money.

Fortis Inc. (FTS) Mission Statement

You need a clear line of sight from a utility's mission to its capital plan, because in a regulated business, the mission is the blueprint for how they spend your money and grow the rate base (the asset value on which they earn a regulated return). For Fortis Inc., the mission is essentially a three-part mandate: Sustainable Growth, Operational Excellence, and Financial Strength. This framework guides every major decision, from infrastructure investment to long-term shareholder returns, providing a defintely stable foundation in a volatile energy market.

The significance of this mission is clear when you look at the numbers. The company's strategy is designed to drive predictable, low-risk growth, which is why they can project a new $28.8 billion five-year capital plan for 2026-2030, an increase of $2.8 billion over the previous plan. That's a massive, long-term commitment that only works if the mission is sound and consistently executed.

Pillar 1: Sustainable Growth

Sustainable Growth for Fortis Inc. isn't just a buzzword; it's a commitment to expanding their operations while actively transitioning to a cleaner energy future. This means their growth is tied to modernization and decarbonization, which are long-term, non-cyclical investment drivers. The company's stated purpose is Breaking Down Fortis Inc. (FTS) Financial Health: Key Insights for Investors, which is a significant strategic shift for a utility.

The proof is in the capital allocation. Their new five-year plan is expected to increase their midyear rate base-the core value of their assets-from approximately $41.9 billion in 2025 to $57.9 billion by 2030, representing a 7.0% annual growth rate. This growth is fueled by projects like transmission investments at ITC and resource transition initiatives at Tucson Electric Power (TEP). Also, Fortis Inc. has already achieved a 34% reduction in scope 1 greenhouse gas (GHG) emissions through 2024 compared to 2019 levels.

Here's the quick math: you invest in modernization now, you get stable, predictable rate base growth for the next decade. It's a classic utility play, but with a green mandate.

Pillar 2: Operational Excellence and Reliability

Operational Excellence is the core promise of any utility: keeping the lights on and the gas flowing safely and efficiently. For Fortis Inc., this translates to a relentless focus on reliability and safety, which are key components of delivering high-quality products and services to their 3.5 million customers.

You can see this commitment directly in their 2025 spending. The company expects to invest approximately $5.6 billion in capital expenditures for the full fiscal year 2025. A huge chunk of this investment goes directly into infrastructure upgrades to enhance system resilience, like advanced grid technologies and energy storage projects. This kind of investment is why they reported a system availability of 99.9% across their utility operations in 2024. That's a number that speaks volumes about service quality.

The goal is simple: We Aim For Excellence Every Day, and that means minimizing outages and maximizing efficiency.

• Prioritize safety for employees and customers.
• Invest in grid modernization and resiliency.
• Maintain high standards of service reliability.

Pillar 3: Financial Strength and Shareholder Value

The third pillar, Financial Strength, is what makes Fortis Inc. a 'dividend aristocrat' in the utility space. Maintaining a robust financial position is crucial to support the massive, ongoing capital investments and, just as importantly, to deliver consistent shareholder returns. This is where the regulated business model shines.

The company's disciplined approach to capital execution and regulatory clarity is what underpins their legendary dividend history. Fortis Inc. has increased its common share dividends for 52 consecutive years, a track record that few companies can match. They are currently guiding for annual dividend growth of 4% to 6% through 2030, supported by the expected 7.0% rate base growth. In Q3 2025, they reported adjusted earnings per share of $0.87, which demonstrates their ability to convert their operational mission into tangible earnings. Honestly, a utility's financial strength is the ultimate measure of its mission's success.

What this estimate hides is the complexity of regulatory approvals, but the continuation of a 9.5% allowed Return on Equity (ROE) for Central Hudson's rate plan, approved in August 2025, shows a constructive regulatory backdrop that supports this financial stability.

Fortis Inc. (FTS) Vision Statement

You're looking for the bedrock of Fortis Inc.'s strategy, and honestly, the company's vision is a clear map for its financial performance. The direct takeaway is this: Fortis aims to be a Premium North American Utility Delivering a Cleaner Energy Future, and they are backing this up with a massive, low-risk capital plan that directly translates to predictable returns for shareholders.

This isn't corporate fluff; it's a regulated growth model. Fortis is now a 100% regulated utility, which means stable, predictable revenue. They just announced a new five-year capital plan of $28.8 billion for 2026-2030, a clear indicator of their commitment to this vision and the regulated asset base (RAB) that drives earnings.

A Premium North American Utility: The Regulated Foundation

Being a premium utility means having a low-risk, high-visibility business model. Fortis operates nine regulated electric and gas utilities across 16 jurisdictions in Canada, the U.S., and the Caribbean, serving about 3.5 million customers.

The core of their financial stability is the regulated asset base (rate base). As of mid-year 2025, this rate base stood at approximately $41.9 billion, and the new capital plan is designed to grow this to $57.9 billion by 2030, representing a 7.0% compound annual growth rate (CAGR). Here's the quick math: a larger rate base means more assets earning a regulated rate of return, which directly supports higher earnings and, crucially, dividend growth.

This focus on low-risk execution is why they've consistently increased their dividend for 52 consecutive years. That's a defintely impressive track record. In November 2025, the company announced a 4.1% increase to their quarterly dividend, bringing it to $0.64 per share.

• $5.6 billion: Expected capital expenditures for the 2025 fiscal year.
• 100%: Percentage of assets that are now regulated.
• 77%: Portion of the new capital plan directed toward transmission and distribution.

Delivering a Cleaner Energy Future: Capitalizing on Energy Transition

The second part of the vision, 'Delivering a Cleaner Energy Future,' is where the majority of that $28.8 billion capital plan is being deployed. This isn't just about being green; it's about smart, necessary infrastructure spending that regulators approve, which locks in future returns.

A significant portion of their investment is going into modernizing the grid for cleaner energy. For example, a large chunk of the new capital is allocated to transmission investments at ITC, including projects related to the Midcontinent Independent System Operator (MISO) long-range transmission plan (LRTP). This infrastructure is essential for connecting new renewable generation sources-like solar and wind farms-to the grid, which is a massive growth opportunity for utilities.

The company's purpose is clear: to deliver a cleaner energy future. This includes projects like the coal-to-natural gas conversion at the Springville Generating Station in Arizona, which is a strategic move to reduce emissions while maintaining customer affordability. The energy transition is a multi-decade trend, so Fortis is positioning itself right in the middle of a long-term, regulated spending cycle.

Core Values: The Operational Engine

The execution of this vision is grounded in a few core values, which act as the operational engine for the whole enterprise. You can't deliver a premium service without a strong culture, and Fortis's values center on safety, people, and local focus. The goal is to ensure operational excellence and financial strength, which are key components of their mission.

• We Never Compromise On Safety: Protecting the health of employees, customers, and contractors is Priority #1.
• We Value Our People: Focusing on inclusion, diversity, and developing talent across the 9,600 employees.
• We Keep It Local: Maintaining a local business model with subsidiary boards to ensure decisions align with community needs and local regulators.

This local business model is what makes their regulated strategy work. Local teams have the authority to manage their operations and regulatory relationships, which is vital for securing approvals for capital projects like the ones driving the 7.0% rate base growth. To be fair, managing regulatory risk across 16 jurisdictions is a constant challenge, but the local model helps mitigate it.

For a deeper dive into how these principles have shaped their past, you can check out Fortis Inc. (FTS): History, Ownership, Mission, How It Works & Makes Money.

Fortis Inc. (FTS) Core Values

You're looking past the stock ticker and into the operational DNA of Fortis Inc., and that's smart. The mission, vision, and core values of a regulated utility like this aren't just marketing fluff; they are the foundation for their predictable earnings and their massive capital plans. For Fortis, the core values directly map to the stability and growth you see in their financials.

Their purpose is clear: Breaking Down Fortis Inc. (FTS) Financial Health: Key Insights for Investors. It's all about delivering a cleaner energy future. But how they execute that comes down to four core values. Let's break down how these values translate into real-world, 2025-level performance and investment.

Safety and Operational Excellence

In the utility business, reliability is everything. You can't generate a regulated return if the lights are out. Fortis's first value is simple: We Never Compromise On Safety. This isn't just about employee well-being; it's the bedrock of system uptime and customer trust. Honestly, in this sector, safety is reliability.

Their commitment to safety and operational excellence-part of their value We Aim For Excellence Every Day-shows up in the numbers. In 2024, the company exceeded industry benchmarks for employee safety performance. Plus, their focus on grid hardening means they delivered energy to their customers 99.9% of the time. That top-quartile reliability performance is what insulates their revenue stream from unexpected outages and regulatory penalties. It's a classic defensive moat.

• Exceeded industry safety benchmarks for employees.
• Achieved 99.9% customer energy reliability in 2024.
• Prioritizing grid resiliency against increasing weather events.

Investing in People and Community

A utility's assets are fixed, but its talent isn't. Fortis understands that to maintain a complex, diversified portfolio across 16 jurisdictions, they need strong local teams. Their value, We Value Our People, is backed by real investment in talent development, like the Fortis Leadership Lab, which prepares emerging leaders and fosters collaboration across their different companies.

The value We Keep It Local ensures that decision-making stays close to the customers and regulators they serve, which is crucial for getting capital projects approved. On the community front, giving back is defintely core to their culture. In 2024, Fortis companies contributed approximately $15 million to the communities they serve, marking more than $61 million in community donations over the last five years. That local connection helps them secure the social license needed for their massive infrastructure build-out.

Financial Strength and Sustainable Growth

The third pillar of We Aim For Excellence Every Day is driving performance and growth, which ties directly into their financial strength and commitment to a cleaner energy future. This is where the big 2025 numbers come into play. Fortis is executing on its largest capital plan in company history to support this growth.

Here's the quick math: The company's capital expenditures for 2025 are expected to be approximately $5.6 billion, up from an earlier forecast. This investment directly supports their new $28.8 billion five-year capital plan (2026-2030), which is projected to grow the rate base from $41.9 billion in 2025 to $57.9 billion by 2030. That's a compound annual growth rate of 7.0%. This rate base expansion is the engine that supports their dividend growth guidance of 4-6% annually through 2030, marking their 52nd consecutive year of dividend increases.

What this estimate hides is the sustainability component. The capital plan is heavily weighted toward transmission and distribution (T&D) and cleaner energy. Fortis has already reduced its corporate-wide Scope 1 greenhouse gas (GHG) emissions by 34% since 2019, and they are targeting a 50% reduction by 2030. For instance, projects like the Roadrunner Reserve 1 battery storage facility in Arizona, now operational, enhance grid reliability while integrating more renewables. It's a dual-purpose investment that hits both the excellence and sustainability targets.