Emera (TSE:EMA) reported second-quarter adjusted earnings of C$212 million, or C$0.69 per share, as the utility advanced asset sales designed to strengthen its balance sheet and concentrate investment on its regulated businesses.
Year-to-date adjusted earnings totaled C$627 million, up C$12 million from the prior-year period, while adjusted earnings per share of C$2.06 were effectively unchanged from a year earlier
The company said it remains on track to deliver compound annual adjusted EPS growth above its 5% to 7% target range through 2026 and expects growth within that range through 2030. “Overall, the first half of 2026 reflects continued progress in executing our strategy and positioning Emera for long-term success,” President and Chief Executive Officer Scott Balfour said on the company’s Aug. 7 earnings call. New Mexico Gas Sale Expected to Close This Month A key development was the New Mexico Public Regulation Commission’s July 30 approval of Emera’s sale of New Mexico Gas to Bernhard Capital Partners. Balfour said the transaction is expected to close later in August.
Emera expects after-tax proceeds of approximately C$650 million to C$700 million from the sale, which it expects to record in its third-quarter results. The company plans to use the funds to reduce holding-company debt and improve financial flexibility, supporting capital investment at its regulated utilities. Balfour said the sale of New Mexico Gas, along with the completed sale of Grand Bahama Power Company on May 12, advances the company’s portfolio-optimization strategy.