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Emera Reports 2025 Fourth Quarter Financial and Annual Financial Results, Extends Growth Target

EMATSX:EMATSX:EMA.PR.ATSX:EMA.PR.BTSX:EMA.PR.CTSX:EMA.PR.ETSX:EMA.PR.FTSX:EMA.PR.HTSX:EMA.PR.JTSX:EMA.PR.L
  • Emera Inc. reported 2025 fourth quarter and annual financial results on February 23, 2026.
  • The company delivered a record annual adjusted EPS of $3.49 for 2025, representing a 19% year-over-year increase.
  • Annual adjusted net income exceeded $1 billion for the first time, reaching $1.045 billion in 2025.
  • Annual reported net income was $1.014 billion, compared to $494 million in 2024.
  • Emera executed its largest ever annual capital plan of $3.6 billion, resulting in 8% year-over-year rate base growth.
  • The company extended its average adjusted EPS growth target of 5-7% through 2030.
  • 2025 adjusted net income growth was driven by increased earnings at Tampa Electric, Emera Energy Services, and New Mexico Gas Company.
  • Year-over-year reported net income included a $41 million after-tax mark-to-market gain, contrasting with a $291 million loss in 2024.
  • Q4 2025 adjusted net income was $167 million ($0.55 per share), down from $246 million ($0.84 per share) in Q4 2024.
  • Q4 2025 reported net income was $68 million ($0.23 per share), down from $154 million ($0.52 per share) in Q4 2024.
  • Florida Electric Utility contributed $845 million to 2025 adjusted net income, up from $644 million in 2024.
  • Canadian Electric Utilities adjusted net income decreased to $182 million in 2025 from $232 million in 2024.
  • Gas Utilities and Infrastructure adjusted net income rose to $276 million in 2025 from $267 million in 2024.
  • A weaker Canadian dollar increased 2025 adjusted net income by $13 million and reported net income by $49 million.
  • A stronger Canadian dollar decreased Q4 2025 adjusted net income by $3 million and reported net income by $3 million.
  • Emera will host a teleconference on February 23, 2026, at 9:30 a.m. Atlantic time to discuss the results.
  • The company serves approximately 2.7 million customers across Canada, the United States, and the Caribbean.