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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

Miss

C$0.85

C$0.91 (9 Analysts)

Q3 EPS

C$0.59

Q3 Adjusted Net Income

C$260 mln

Q3 Net Income

C$182 mln


Reuters Recommended Reads

  • Nov 3 - Canada's Fortis Q3 profit beats estimates on rate base growth; raises dividend

  • Nov 3 - Canada's TransAlta swings to Q3 net profit but revenue falls

  • Nov 5 - France's Engie earnings top forecast on higher revenue from grid networks


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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