Fortis Inc.
Q1 2022 Earnings Call
May 04, 2022, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by. My name is Ruel, and I will be your conference operator today. Welcome to the Fortis' first quarter conference call and webcast. [Operator instructions] At this time, I would like to turn the conference over to Ms.
Stephanie Amaimo. Please go ahead, Ms. Amaimo.
Stephanie Amaimo -- Vice President, Investor Relations
Thanks, Ruel, and good morning, everyone, and welcome to Fortis' first quarter 2022 results conference call. I'm joined by David Hutchens, president and CEO; Jocelyn Perry, executive VP and CFO; other members of the senior management team; as well as CEOs from certain subsidiaries. Before we begin today's call, I want to remind you that the discussion will include forward-looking information, which is subject to the cautionary statement contained in the supporting slideshow. Actual results can differ materially from the forecast projections included in the forward-looking information presented today.
All non-GAAP financial measures referenced in our prepared remarks are reconciled to the related U.S. GAAP financial measures in our first quarter 2022 MD&A. Also, unless otherwise specified, all financial information referenced is in Canadian dollars. With that, I will turn the call over to David.
David Hutchens -- President and Chief Executive Officer
Thank you, and good morning, everyone. Our first quarter not only demonstrated the financial strength and stability of our business but also our commitment to delivering a cleaner energy future for our stakeholders. During the first quarter, we successfully executed on our capital plan by investing nearly $1 billion in our energy systems supporting our adjusted EPS of $0.78. There were also advancements made on the FortisBC Eagle Mountain-Woodfibre Gas Line Project, as well as the MISO long-range transmission plan and Lake Erie Connector project at ITC.
Today, we are pleased to announce a 2050 net-zero target to build on our 2035 75% greenhouse gas reduction target. This announcement follows our inaugural TCFD climate assessment report issued in March. Today, the importance of reliable, affordable, and secure energy service to our customers is more obvious than any time in recent memory. And at Fortis, we are ensuring that these remain core principles as we take actions to both mitigate and respond to the impacts of climate change.