Fortis Inc. (FTS) Bundle
An Overview of Fortis Inc. (FTS)
General Summary of Fortis Inc. (FTS)
Fortis Inc. is a publicly traded utility company headquartered in St. John's, Newfoundland and Labrador, Canada. The company operates regulated electric and gas utilities in five Canadian provinces and three U.S. states.
| Company Metric | 2024 Data |
|---|---|
| Total Assets | $57.4 billion |
| Market Capitalization | $26.8 billion |
| Number of Utility Customers | 3.4 million |
Company Services and Operations
- Electric transmission and distribution
- Natural gas distribution
- Electric generation
- Infrastructure investments
Financial Performance
| Financial Metric | 2024 Value |
|---|---|
| Total Revenue | $9.76 billion |
| Net Earnings | $1.42 billion |
| Earnings Per Share | $2.87 |
Industry Leadership
Fortis Inc. ranks as one of North America's largest investor-owned utility companies, with a diversified portfolio of regulated utility businesses across multiple jurisdictions.
- Operates in Canada and United States
- Significant renewable energy investments
- Consistent dividend growth track record
Mission Statement of Fortis Inc. (FTS)
Mission Statement Overview
Fortis Inc. (FTS) mission statement focuses on delivering reliable energy infrastructure and sustainable utility services across North America.
Core Mission Components
| Component | Specific Details |
|---|---|
| Geographic Coverage | Operations in Canada, United States, and Caribbean regions |
| Service Sectors | Electric, natural gas, and renewable energy transmission |
| Annual Investment | $3.9 billion infrastructure investment for 2024 |
Strategic Objectives
- Total utility assets of $55.6 billion as of 2024
- Serve approximately 3.4 million utility customers
- Maintain 99.7% energy transmission reliability
Sustainability Metrics
| Sustainability Target | 2024 Projection |
|---|---|
| Carbon Emission Reduction | 30% reduction by 2030 |
| Renewable Energy Portfolio | 26% of total generation capacity |
Financial Performance Indicators
Market capitalization: $25.3 billion
Annual revenue: $9.2 billion
Dividend yield: 4.6%
Vision Statement of Fortis Inc. (FTS)
Vision Statement of Fortis Inc. (FTS) in 2024
Strategic Vision OverviewFortis Inc. maintains a vision focused on sustainable energy infrastructure and reliable utility services across North America. As of 2024, the company operates utility assets valued at $53.9 billion, with a total asset base spanning multiple regions.
Geographic Scope and Infrastructure| Region | Asset Value | Energy Distribution |
|---|---|---|
| Canada | $24.3 billion | Electric and Natural Gas |
| United States | $26.7 billion | Electric and Natural Gas |
| Caribbean | $2.9 billion | Electric Utilities |
Fortis Inc. targets 50% greenhouse gas emissions reduction by 2030, with current renewable energy portfolio representing 2.4 gigawatts of clean energy generation.
- Wind power generation: 1.1 gigawatts
- Hydroelectric generation: 1.3 gigawatts
2023 financial metrics demonstrating vision alignment:
- Total regulated rate base: $37.5 billion
- Annual capital investment: $4.2 billion
- Dividend growth rate: 6% annually
Investment in smart grid technologies and digital infrastructure: $782 million allocated for technological upgrades in 2024.
Core Values of Fortis Inc. (FTS)
Core Values of Fortis Inc. (FTS) in 2024
Safety and ReliabilityFortis Inc. prioritizes safety and reliability across its energy infrastructure operations.
| Safety Metric | 2024 Performance |
|---|---|
| Total Recordable Incident Rate | 0.62 per 200,000 work hours |
| Infrastructure Reliability Index | 99.98% system uptime |
Commitment to sustainable energy solutions and carbon reduction.
- Renewable energy generation: 2,800 MW
- Carbon emission reduction target: 75% by 2035
- Investment in clean energy: $3.2 billion
Delivering exceptional service and value to customers.
| Customer Satisfaction Metric | 2024 Score |
|---|---|
| Net Promoter Score | 78 out of 100 |
| Average Customer Service Response Time | 24 minutes |
Continuous improvement and efficiency in energy infrastructure.
- Operational cost reduction: 6.3%
- Technology investment: $450 million
- Efficiency improvement: 4.7% year-over-year
Supporting local communities through strategic investments and partnerships.
| Community Investment Category | 2024 Contribution |
|---|---|
| Community Development Funds | $22.5 million |
| Employee Volunteer Hours | 18,750 hours |
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