Emera Inc. reported Q3 2025 earnings on November 7, 2025, delivering adjusted net income of $263 million, or $0.88 per common share, and reported net income of $228 million, or $0.76 per share. Total revenue reached CAD 1.89 billion, slightly below the consensus estimate of CAD 1.93 billion.
Adjusted net income rose 11% from $236 million in Q3 2024, while reported net income jumped 5,600% from $4 million in the same quarter last year, a swing largely attributable to the elimination of a one‑time charge related to the sale of New Mexico Gas Company. The adjusted EPS beat consensus by $0.0101, a 1.13% miss, reflecting a 9% year‑over‑year improvement in earnings quality.
Segment performance varied: Tampa Electric’s earnings grew, offsetting lower results at Nova Scotia Power and New Mexico Gas Company. Corporate costs increased, contributing to the modest compression in operating margin. The mix shift toward higher‑margin regulated utilities in Florida helped drive the overall earnings lift.
Management unveiled a $20 billion capital plan for 2026‑2030, with 80% earmarked for Florida investments, and reaffirmed a 7‑8% rate‑base growth guidance through 2030. The plan signals confidence in long‑term demand and positions the company to capture growth in a high‑population region.
Scott Balfour, President and CEO, said the quarter’s results demonstrate “continued momentum driven by strong performance at Tampa Electric and progress on regulatory fronts, including the completion of the Peoples Gas rate case.” He emphasized the company’s focus on disciplined cost management and strategic investment.
Investors responded positively to the earnings release, citing the robust capital plan and extended growth guidance as key drivers of confidence, despite the slight miss on adjusted EPS.
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