ST. JOHN`S, Newfoundland (AP) — ST. JOHN`S, Newfoundland (AP) — Fortis Inc. (FTS) on Thursday reported fourth-quarter profit of $302.7 million.
On a per-share basis, the St. john`S, Newfoundland-based company said it had net income of 60 cents. Earnings, adjusted for non-recurring costs, were 65 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The electric and gas utility posted revenue of $2.21 billion in the period.
For the year, the company reported profit of $1.23 billion, or $2.43 per share. Revenue was reported as $8.71 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTS at https://www.zacks.com/ap/FTS
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