Fortis Inc. (NYSE:FTS) reports 2Q18 Profit Down; Misses Street View

Fortis Inc. (NYSE:FTS) reported net income for the second quarter of $ 240.00 million or $ 0.57 per share, compared to income of $ 257.00 million or $ 0.62 per share for the year-ago quarter.

The company reported second quarter adjusted net income of $ 240.00 million or $ 0.57 per share versus $ 253 million or $ 0.61 per share for the year ago period.

Analysts polled by Thomson Reuters expected Fortis to report income of $ 0.58 per share for the second quarter.

Our performance in the first half of 2018 positions us well for the year. With capital expenditures on track, we are executing on our growth strategy, and yielding quality operational and financial results from our utility businesses, said Barry Perry, President and Chief Executive Officer, Fortis.

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