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Fortis Should Turn On The Gains Following Q1

Fortis Inc (FTS.TO) should go higher after posting a 17% rise in first-quarter net profit to $117 million or 67 cents a share, up from $100 million or 58 cents a share in the year earlier period.

Fortis, which is one of the largest investor-owned distribution utilities in Canada, said quarterly revenue rose to $1.16 billion from $1.07 billion.

Analysts on average had expected the company to post earnings of 62 cents a share on revenue of $1.18 billion, according to Thomson Reuters I/B/E/S.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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