Emera Tops $1B Adjusted Net Income with $3.49 EPS, Extends Growth Target
Emera reported record 2025 adjusted EPS of $3.49, a 19% increase year-over-year, and achieved over $1.045 billion in annual adjusted net income for the first time. The utility executed a $3.6 billion capital plan driving 8% rate base growth and extended its 5–7% average EPS growth target through 2030.
1. Record 2025 Financial Performance
Emera delivered record annual adjusted EPS of $3.49, up 19% year-over-year, and reported adjusted net income of $1.045 billion versus $849 million in 2024. Reported net income reached $1.014 billion, driven by mark-to-market gains and strong results at Tampa Electric, Emera Energy Services and New Mexico Gas Company.
2. Fourth Quarter Results
In Q4 2025, adjusted net income fell to $167 million, or $0.55 per share, from $246 million, or $0.84 per share in Q4 2024. The decline reflected lower earnings at Nova Scotia Power and New Mexico Gas, reduced tax recoveries and unfavorable weather impacts at Tampa Electric.
3. Growth Target Extension and Capital Plan
Emera executed its largest capital plan to date at $3.6 billion, fueling 8% year-over-year rate base growth. The company extended its average adjusted EPS growth target of 5–7% through 2030, underscoring its commitment to disciplined investment and long-term shareholder value.