Record-Breaking First Quarter Performance
Emera reported first quarter adjusted earnings per share of $1.28, representing a 68% increase over the same period in 2024. This marks the strongest first quarter performance in the company's history.
Strong Utility and Energy Segment Results
Tampa Electric and New Mexico Gas benefited from new rates, and Nova Scotia Power saw favorable results due to colder weather. Emera Energy also reported a record quarter, with adjusted earnings of USD 48 million, leading to an upward revision of their earnings guidance for 2025.
Successful Financial Management
The company reported record first quarter adjusted earnings of $379 million and a 37% increase in operating cash flow when normalized for fuel and storm deferrals. Credit metrics have improved by over 200 basis points since the first quarter of 2024.
Significant Capital Deployment
Over $700 million in customer-focused capital was deployed in the first quarter, putting the company on track to execute a $3.4 billion capital plan for the year. Key projects include solar development and reliability investments.
Mitigation of Tariff Risks
The company has secured panels for solar investments through 2026, with plans for 100% domestic supply and tariff risk mitigated through 2029. Pricing for major projects at Peoples Gas has been locked in, reducing exposure to tariff impacts.