Q: May I please have your comments on earning for Fortis and Methanex
5i Research Answer:
FTS EPS of 84c beat estimates by 3%; revenue of $2.71B was 5% short of estimates. But EBITDA of $1.26B beat by ~9%. KW hours sold rose 10%, net earnings rose 34%. All looks good here and the stock has held up better than many other dividend stocks. MX reported EPS of 2c vs an expected loss of 9c. Revenue of $823M beat by 11%. EBITDA of $105M missed by 5%. Revenue did fall sharply (19%) year over year on lower contract prices. MX saw 'improving global market conditions in the 3Q' which is a positive sign, and the company does expect EPS growth in the 35%+ range in 2024. Market reaction was generally positive, though it did get a couple of broker target reductions. But the outlook for 2024 looks better than recent results.