Fortis: Q4 Earnings Snapshot

ST. JOHN`S, Newfoundland (AP) — ST. JOHN`S, Newfoundland (AP) — Fortis Inc. (FTS) on Friday reported fourth-quarter net income of $283 million.

The St. john`S, Newfoundland-based company said it had net income of 56 cents per share. Earnings, adjusted for non-recurring costs, came to 59 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The electric and gas utility posted revenue of $2.11 billion in the period.

For the year, the company reported profit of $1.17 billion, or $2.37 per share. Revenue was reported as $8.4 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