Q1 2026 Emera Inc Earnings Call Transcript
Key Points
- Emera Inc (EMA) reported record first-quarter adjusted earnings per share of $1.37, marking a 7% increase year over year.
- The company achieved strong performance across its regulated utilities and record results at Emera Energy, positioning it to exceed its 5% to 7% EPS growth target for 2026.
- Tampa Electric benefited from new rates and colder-than-normal weather, leading to higher demand and strong off-system sales.
- Emera Energy delivered another record first quarter, with earnings expectations significantly above its traditional range.
- The company has regulatory clarity with new rates in place across its major utilities, providing a predictable path for earnings and cash flow growth through 2027.
- The sale of Grand Bahama Power Company, while simplifying Emera's portfolio, is not expected to have a material financial impact.
- Earnings in the Canadian Electric segment were lower due to a lower income tax recovery and higher regulatory lag.
- A stronger Canadian dollar reduced EPS by $0.06, impacting overall earnings.
- The New Mexico Gas sale process is delayed, with the outcome still pending regulatory approval.
- Moody's has set Emera Inc (EMA) on a negative outlook, indicating potential concerns over financial metrics if certain transactions do not proceed.
Good morning, ladies and gentlemen, and welcome to the Emera Q1 2026 earnings conference call. (Operator Instructions) Also note that this call is being recorded on Friday, May 8, 2026.
I now would like to turn the conference over to Dave Bezanson. Please go ahead.
Thank you, Sylvie, and thank you all for joining us this morning for Emera's first-quarter 2026 conference call and live webcast.
Emera's first-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 Balfour, 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 subject to the cautionary statement contained
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