Canada's Emera Q3 adjusted EPS misses expectations on higher costs, asset sale impacts

Overview

• Canada energy utility's Q3 adjusted EPS missed analyst expectations

• Q3 adjusted net income declined slightly due to higher costs and asset sale impacts

• Company unveiled C$21.5 bln five-year capital plan focused on Florida investments

Outlook

• Emera expects 2026 adjusted EPS growth above its 5-7% annual target range

• Company maintains 5-7% adjusted EPS growth target through 2030

• Emera introduces five-year C$21.5 bln capital plan, targeting 7.5-8.5% rate base growth through 2031

Result Drivers

• HIGHER CORPORATE COSTS - Co said Q3 adjusted net income declined due to higher corporate costs, including a loss on the long-term incentive hedge

• ASSET SALE IMPACT - Sale of GBPC reduced earnings, partially offset by gains at PGS, EES and NSPI

• ENERGY SERVICES PERFORMANCE - EES earnings rose due to favorable market conditions and higher natural gas prices

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)