Emera's Q4 earnings exceeded expectations

Nova Scotia, Halifax - On Monday, Emera Inc. (TSX/NYSE: EMA) announced a Q4 adjusted earnings of $0.55 per share, beating analyst expectations of $0.44.

The Canadian utility company’s quarterly adjusted net profit was $167 million, down from $246 million in the same period last year.

Following the earnings release, the stock showed no movement in after-hours trading.

The decline in quarterly performance was mainly due to reduced earnings from Nova Scotia Power and New Mexico Gas Company, lower tax recoveries, and Tampa Electric being affected by adverse weather, but partially offset by increased earnings from Emera Energy Services.

For the full fiscal year 2025, the company achieved a record adjusted earnings of $3.49 per share, a 19% year-over-year increase, and for the first time, annual adjusted net profit exceeded $1 billion.

“Undoubtedly, 2025 is a strong year for Emera,” said President and CEO Scott Balfour. “We achieved over $1 billion in annual adjusted net profit for the first time, with average adjusted earnings per share growing 19% compared to 2024.”

The company executed its largest-ever annual capital plan, totaling $3.6 billion, driving an 8% year-over-year increase in rate base. Emera has extended its target of 5-7% average annual growth in adjusted earnings per share through 2030, using 2024 as the baseline year.

For the full fiscal year 2025, adjusted net profit reached $1.045 billion, up from $849 million in 2024.

The growth was mainly driven by increased earnings from Tampa Electric, Emera Energy Services, and New Mexico Gas Company, partially offset by the sale of Labrador Island Link equity and decreased earnings from Nova Scotia Power.

The Q4 net profit was $68 million, or $0.23 per share, compared to $154 million, or $0.52 per share, in the same period last year.

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