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Fortis Reports Strong Q2 Results, Advances Tilbury LNG Expansion
"We are pleased to report our second quarter results which reflect solid performance from our utilities as they execute the 2026 capital plan and work to capture additional growth opportunities," said David Hutchens, President and Chief Executive Officer, Fortis. "Our momentum continues to build, and the recently-announced approval of the Phase 1B expansion at FortisBC Energy's Tilbury LNG Facility demonstrates how we can partner with government and First Nations to advance economic growth in the communities we serve."
Fortis Launches C$28.8 Billion Capital Plan, Expected 7% Annual Growth
"Fortis continues to enhance shareholder value through the execution of its capital plan, the balance and strength of its diversified portfolio of regulated utility businesses, and growth opportunities within and proximate to its service territories. The Corporation's C$28.8 billion five-year capital plan is expected to increase midyear rate base from $42.4 billion in 2025 to $57.9 billion by 2030, translating into a five-year compound annual growth rate of 7%. Fortis expects its long-term growth in rate base will drive earnings that support dividend growth guidance of 4%-6% annually through 2030."
TEP Completes 200 MW Battery Storage Project
"Our C$5.6 billion annual capital plan is on track with C$2.7 billion invested during the first half of 2026. In June 2026, the Roadrunner Reserve II battery storage project was placed in service at TEP. The 200 megawatt battery energy storage system facilitates the integration of renewable energy into the electric grid with the capability to store 800 MW hours of energy, enough to serve approximately 42,000 homes for four hours when deployed at full capacity."
U.S. Stock Futures Rise as Oil Prices Drop Sharply
Stock futures are higher across the board as oil drops sharply on growing expectations of a U.S.-Iran de-escalation. Crude has gone from the primary headwind to a tailwind almost overnight, falling back toward $100. Q1 growth is tracking near 25%-30%, one of the strongest rates since 2021, and estimates for the next 12 months are still being revised higher. AI remains the center of gravity. Semis and hyperscalers are leading again, with strong prints from names like AMD. Chip-driven rallies in Asia and Europe are also reinforcing that this isn't just a U.S. story.In pre-market trading, S&P 500 futures rose 0.71%, Nasdaq futures rose 1.13% and Dow futures rose 0.90%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Corningup 19% after the company disclosed that, in connection with the long-term partnership with Nvidia, Corning entered into a securities purchase agreement with Nvidia pursuant to which the company issued and sold to Nvidia a warrant to purchase up to 15M shares of common stock of the companyUP AFTER EARNINGS -AMDup 14%Disneyup 6%Uberup 6%CVS Healthup 5%Oscar Healthup 9%Global Paymentsup 7%Littelfuseup 7%Insuletup 3%Instacartup 2%Apollo Globalup 2%Marriottup 1%Restaurant Brandsup 1%Fortisup 1%Kraft Heinzup 1%BorgWarnerup 1%DOWN AFTER EARNINGS -Freshworksdown 14%Angi Inc.down 11%United Therapeuticsdown 4%Skyworksdown 4%SolarEdgedown 2%Deluxedown 2%Johnson Controlsdown 1%
Fortis Q1 2026 Results Meet Expectations
"We are pleased with our start to 2026 as our teams continue to build on the momentum from last year," said David Hutchens, President and Chief Executive Officer, Fortis. "First quarter results were in line with our expectations, and reflect the strength of our diversified business and the continued execution of our low-risk capital plan."
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