Emera Net Income Exceeds $1 Billion for First Time
The energy and services company reported net income of $1,090 million for 2025, surpassing its 2024 result of $568 million
Emera Incorporated (EMA), an energy and services company investing in electricity and gas transmission and distribution, generated more than $1 billion in annual adjusted net income for the first time in its history. The company reported net income of $1,090 million for 2025, compared to $568 million in 2024.
Cash provided by operating activities decreased to $1,802 million in 2025 from $2,646 million in 2024. This decline occurred despite higher cash from operations and proceeds from common shares issued, which were partially offset by dividends paid on common stock and investments in property, plant and equipment.
Capital investment activity accelerated as additions to property, plant and equipment rose to $3,532 million in 2025 from $3,151 million in 2024. Net property, plant and equipment increased by $1,240 million due to capital additions exceeding depreciation.
Financing activities provided $1,841 million in 2025, a reversal from a $818 million use of cash in 2024. This shift was driven by $2,016 million in net proceeds from long-term debt, compared to $1,361 million in the prior year. Total short-term and long-term debt increased by $1,654 million, attributed to long-term debt issuances at TEC and EUSHI Finance Inc., as well as a non-revolving term credit facility at NSPI.
Dividends declared on common stock rose to $868 million in 2025, or $2.9075 a share, up from $829 million or $2.8775 a share in 2024.
Strategic shifts included an agreement announced on August 5, 2024, to sell the New Mexico Gas Company. The company also secured $217 million in equity financing from the Canada Infrastructure Bank for the Wasoqonatl Transmission Line.
Emera continues to face risks related to regulatory lag and the ability to recover costs through rates. The company also noted that rising interest rates may negatively affect the economic viability of acquisition initiatives and project development.