Fortis Inc. (FTS)

Fortis Income Statement

Financials in millions CAD. Fiscal year is January - December.

Year	2023	2022	2021	2020	2019
Revenue	11,517	11,043	9,448	8,935	8,783
Revenue Growth (YoY)	4.29%	16.88%	5.74%	1.73%	4.68%
Cost of Revenue	6,660	6,635	5,474	4,999	4,972
Gross Profit	4,857	4,408	3,974	3,936	3,811
Other Operating Expenses	1,773	1,668	1,505	1,428	773
Operating Expenses	1,773	1,668	1,505	1,428	773
Operating Income	3,084	2,740	2,469	2,508	3,038
Other Expense / Income	1,151	1,057	941	1,003	1,027
Pretax Income	1,933	1,683	1,528	1,505	2,011
Income Tax	360	289	234	231	289
Net Income	1,573	1,394	1,294	1,274	1,722
Preferred Dividends	67	64	63	65	67
Net Income Common	1,506	1,330	1,231	1,209	1,655
Net Income Growth	13.23%	8.04%	1.82%	-26.95%	50.45%
Shares Outstanding (Basic)	489	480	473	465	438
Shares Change	1.71%	1.56%	1.72%	6.07%	4.08%
EPS (Basic)	3.10	2.78	2.61	2.60	3.79
EPS (Diluted)	3.10	2.78	2.61	2.60	3.78
EPS Growth	11.51%	6.51%	0.38%	-31.22%	45.95%
Free Cash Flow	-408	-680	-386	-1,270	-955
Free Cash Flow Per Share	-0.83	-1.42	-0.82	-2.73	-2.18
Dividend Per Share	1.688	1.676	1.643	1.446	1.375
Dividend Growth	0.72%	2.01%	13.62%	5.16%	2.92%
Gross Margin	42.17%	39.92%	42.06%	44.05%	43.39%
Operating Margin	26.78%	24.81%	26.13%	28.07%	34.59%
Profit Margin	13.08%	12.04%	13.03%	13.53%	18.84%
Free Cash Flow Margin	-3.54%	-6.16%	-4.09%	-14.21%	-10.87%
Effective Tax Rate	18.62%	17.17%	15.31%	15.35%	14.37%
EBITDA	3,475	3,143	2,841	2,787	3,210
EBITDA Margin	30.17%	28.46%	30.07%	31.19%	36.55%
Depreciation & Amortization	1,542	1,460	1,313	1,282	1,199
EBIT	1,933	1,683	1,528	1,505	2,011
EBIT Margin	16.78%	15.24%	16.17%	16.84%	22.90%

Source: Financials are provided by Nasdaq Data Link and sourced from audited reports submitted to the Securities and Exchange Commission (SEC).