Emera Reports Weaker Q2 Earnings Amid Unchanged Long-Term Growth Targets
Emera (NYSE:EMA) posted weaker second-quarter results in August 2026, with adjusted earnings per share falling to $0.69 from $0.79 a year ago. Despite the decline, the company reaffirmed its long-term growth target of 5% to 7% annual adjusted EPS growth through 2030 and highlighted strong cash flow generation and infrastructure spending as signs of underlying strength. The drop in earnings was attributed to higher interest expenses, foreign exchange losses at Corporate, lower performance from New Mexico Gas Company, and the impact of selling Grand Bahama Power. Reported net income also fell sharply due to mark-to-market losses and a loss on the sale. The Canadian Electric Utilities segment saw reduced adjusted net income year to date, partly due to lost tax credits and higher costs. Market reactions suggest some institutional investors have trimmed their positions in Emera, with hedge fund ownership dropping from 15 funds to 13. At its current forward P/E of 18.66, the stock is priced on expectations that it will deliver steady growth without further financial headwinds.
