Q4 2025 Emera Inc Earnings Call Transcript
Key Points
- Emera Inc (EMA) achieved a record $1 billion in annual adjusted net income for the first time in its history, reflecting strong financial performance.
- The company reported a 19% increase in adjusted earnings per share, significantly exceeding its target growth range of 5% to 7%.
- Emera Inc (EMA) successfully deployed $3.6 billion in capital investment, leading to approximately 8% rate-based growth over 2024.
- The company delivered a 19% increase in operating cash flow, underscoring the strength of its financial results.
- Emera Inc (EMA) is planning a record $4 billion capital investment in 2026, part of a $20 billion five-year plan to enhance system reliability and meet customer needs.
- Higher operating and maintenance costs, increased depreciation, and interest expenses partially offset the benefits of new rates and customer growth at Tampa Electric.
- Earnings at Canadian electric utilities were lower due to higher operating and maintenance costs and the sale of equity interest in the Labrador Island Link.
- Nova Scotia Power's earnings were impacted by higher operating and maintenance costs and a tax recovery recognized in the previous year.
- The company faces regulatory uncertainties in Nova Scotia, with ongoing discussions about rate applications and securitization proposals.
- Foreign exchange fluctuations had a modest impact on earnings, with a slightly stronger Canadian dollar reducing adjusted earnings in the fourth quarter.
Good morning ladies and gentlemen, and welcome to the Emera's fourth-quarter 2025 earnings conference call. (Operator Instructions)This call is being recorded on Monday, February 23, 2026.
I would now like to turn the conference call over to Dave Bezanson. Please go ahead.
Thank you, Jenny, and thank you all for joining us this morning for Emera's fourth quarter 2025 conference call and live webcast. Emera's fourth quarter earnings release was distributed this morning via Newswire, and the financial statements, management's discussion and analysis, and the presentation being referenced on this call are available on our website at emera.com.
Joining me for this morning's call are Scott Belfour, Emera's President and Chief Executive Officer; Jared Green, Emera's Chief Financial Officer, and other members of Emera's management team.
Before we begin, I'd like to advise you that this morning's discussion will include forward-looking information which is
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