adjusted eps
—
FY 2026
management target
EMERA INC
Last · —$46.96+1.28 (+2.80%)live · yahoo · 32m ago
Market cap$14.41B—
P/E · TTM20.0fwd — · eps —
Beta—vs S&P 500
Div yield—annual · TTM
52w range
——
Volume—session
Loading chart…
OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Balance-sheet improvement and utility growth are attractive, but current earnings momentum is not strong enough for a clean buy.
Hold after a mixed quarter:
Q2 adjusted EPS fell 10 cents year over year to $0.69, while year-to-date EPS was $2.06 on $627 million of adjusted earnings. The bull case is regulated rate-base growth of 7%-8% annually through 2030, a roughly $650-$700 million U.S. after-tax New Mexico Gas sale, and stated adjusted EPS growth above the 5%-7% target range through 2026; the tension is flat year-to-date EPS, higher costs and interest expense, dilution, and reliance on regulatory execution.
Themes
- Regulated Utilities
- New Mexico Gas Sale
- Rate Base Growth
- Tampa Electric
- Nova Scotia Power
- Balance Sheet
Near term
Closing New Mexico Gas later this month could deliver approximately $650-$700 million U.S. of after-tax proceeds for holding-company debt reduction.
Tampa Electric residential rates fell approximately 11%-12% from August 1 after removal of the storm surcharge, which may pressure near-term revenue despite customer relief.
The October 1 Tampa Electric large-load tariff filing could clarify economics for data-center demand, but no committed customer or quantified earnings contribution was disclosed.
Nova Scotia Power expects progress toward thermal-asset securitization by year-end, but the savings and earnings impact remain unquantified.
Longer term
Management targets 7%-8% annual rate-based growth through 2030, supported by approximately $4 billion of 2026 capital spending and growth in Florida and Nova Scotia.
The New Mexico Gas sale is expected to add approximately 50 basis points on a sustained basis to Moody's operating-cash-flow-pre-working-capital-to-debt metric, improving financial flexibility.
Transmission expansion in Atlantic Canada and a potential Ontario marine HVDC project offer optionality, but both remain dependent on external procurement and policy processes.
Red flags
Year-to-date adjusted EPS was effectively flat year over year despite adjusted earnings increasing $12 million, and second-quarter adjusted EPS declined to $0.69.
Higher depreciation, operating and maintenance costs, interest expense, regulatory lag, currency, and a higher share count are recurring offsets to rate and customer growth.
Management did not quantify the potential value, timing, or returns of data-center, Atlantic transmission, or Ontario project opportunities.
The company expects only to be above Moody's 12% downgrade threshold in 2026 and described the desired cushion as mid-12s, indicating limited balance-sheet headroom.
Forward outlook
adjusted eps
5–7 pct
FY 2030
official guidance
Recommendation history
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
Upcoming earnings
1:30 PM UTC+1
Period
Sep 2026
Est. EPS
$0.69
Est. revenue
2.2B
Earnings transcripts
Documents
FormReporting forFiledFlags