Latest news with #ScottBalfour
Yahoo
22-05-2025
- Business
- Yahoo
Emera to Commence Trading on the New York Stock Exchange
HALIFAX, Nova Scotia, May 22, 2025--(BUSINESS WIRE)--Today, Emera Inc. (TSX: EMA) announces it has received approval to list its common shares on the New York Stock Exchange ("NYSE"). Emera's common shares are expected to begin trading on the NYSE on or around May 28, 2025, under the ticker symbol "EMA". "This listing is a significant milestone for Emera's growth and confidence in our vision," says Scott Balfour, Emera's President and CEO. "It connects us to the largest pool of global capital and a network of world-class investors, and it reinforces our commitment to providing long-term value for our shareholders." Emera confirms this ahead of its 2025 Annual General Meeting being held later today. The Company plans to mark the listing by ringing the NYSE Opening Bell later this year. Emera's common shares will continue to trade on the Toronto Stock Exchange ("TSX") under the symbol "EMA". Shareholders can participate in Emera's 2025 Annual General Meeting via live webcast at 2:00 p.m. (Atlantic time) today. Details on how to participate in the meeting, vote and submit questions are available on Emera's website. Forward Looking Information This news release contains forward-looking information within the meaning of applicable securities laws, including without limitation, statements about Emera's planned NYSE listing and trading, and Emera's expectations and beliefs regarding the anticipated benefits of the NYSE listing to Emera and its shareholders. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities regulatory filings, including under the heading "Enterprise Risk and Risk Management" in Emera's annual Management's Discussion and Analysis, and under the heading "Principal Financial Risks and Uncertainties" in the notes to Emera's annual and interim financial statements, which can be found on SEDAR+ at or on EDGAR at About Emera Emera (TSX: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.6 million customers in Canada, the United States and the Caribbean. Our team of 7,600 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange. Additional information can be accessed at or View source version on Contacts Investor Relations:Dave Media:Dina Bartolacci Seely902-478-0080media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
22-05-2025
- Business
- National Post
Emera to Commence Trading on the New York Stock Exchange
Article content HALIFAX, Nova Scotia — Today, Emera Inc. (TSX: EMA) announces it has received approval to list its common shares on the New York Stock Exchange ('NYSE'). Emera's common shares are expected to begin trading on the NYSE on or around May 28, 2025, under the ticker symbol 'EMA'. Article content Article content 'This listing is a significant milestone for Emera's growth and confidence in our vision,' says Scott Balfour, Emera's President and CEO. 'It connects us to the largest pool of global capital and a network of world-class investors, and it reinforces our commitment to providing long-term value for our shareholders.' Article content Emera confirms this ahead of its 2025 Annual General Meeting being held later today. The Company plans to mark the listing by ringing the NYSE Opening Bell later this year. Emera's common shares will continue to trade on the Toronto Stock Exchange ('TSX') under the symbol 'EMA'. Shareholders can participate in Emera's 2025 Annual General Meeting via live webcast at 2:00 p.m. (Atlantic time) today. Details on how to participate in the meeting, vote and submit questions are available on Emera's website. Article content This news release contains forward-looking information within the meaning of applicable securities laws, including without limitation, statements about Emera's planned NYSE listing and trading, and Emera's expectations and beliefs regarding the anticipated benefits of the NYSE listing to Emera and its shareholders. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities regulatory filings, including under the heading 'Enterprise Risk and Risk Management' in Emera's annual Management's Discussion and Analysis, and under the heading 'Principal Financial Risks and Uncertainties' in the notes to Emera's annual and interim financial statements, which can be found on SEDAR+ at or on EDGAR at Article content Emera (TSX: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.6 million customers in Canada, the United States and the Caribbean. Our team of 7,600 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange. Article content Article content Article content Article content Article content Contacts Article content Investor Relations: Dave Bezanson 902-474-2126 Article content Article content Article content
Business Wire
22-05-2025
- Business
- Business Wire
Emera to Commence Trading on the New York Stock Exchange
HALIFAX, Nova Scotia--(BUSINESS WIRE)--Today, Emera Inc. (TSX: EMA) announces it has received approval to list its common shares on the New York Stock Exchange ('NYSE'). Emera's common shares are expected to begin trading on the NYSE on or around May 28, 2025, under the ticker symbol 'EMA'. 'This listing is a significant milestone for Emera's growth and confidence in our vision,' says Scott Balfour, Emera's President and CEO. 'It connects us to the largest pool of global capital and a network of world-class investors, and it reinforces our commitment to providing long-term value for our shareholders.' Emera confirms this ahead of its 2025 Annual General Meeting being held later today. The Company plans to mark the listing by ringing the NYSE Opening Bell later this year. Emera's common shares will continue to trade on the Toronto Stock Exchange ('TSX') under the symbol 'EMA'. Shareholders can participate in Emera's 2025 Annual General Meeting via live webcast at 2:00 p.m. (Atlantic time) today. Details on how to participate in the meeting, vote and submit questions are available on Emera's website. Forward Looking Information This news release contains forward-looking information within the meaning of applicable securities laws, including without limitation, statements about Emera's planned NYSE listing and trading, and Emera's expectations and beliefs regarding the anticipated benefits of the NYSE listing to Emera and its shareholders. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities regulatory filings, including under the heading 'Enterprise Risk and Risk Management' in Emera's annual Management's Discussion and Analysis, and under the heading 'Principal Financial Risks and Uncertainties' in the notes to Emera's annual and interim financial statements, which can be found on SEDAR+ at or on EDGAR at About Emera Emera (TSX: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.6 million customers in Canada, the United States and the Caribbean. Our team of 7,600 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange. Additional information can be accessed at or
National Post
08-05-2025
- Business
- National Post
Emera Reports 2025 First Quarter Financial Results
Article content HALIFAX, Nova Scotia — Today, Emera (TSX: EMA) reported 2025 first quarter financial results. Article content Article content Emera delivers strong first quarter results. Quarterly adjusted earnings per share ('EPS') (1) grew 68% to $1.28 in Q1 2025 compared to $0.76 in Q1 2024 driven by robust performance from across its portfolio Quarterly reported EPS increased to $1.96 in Q1 2025 from $0.73 in Q1 2024 primarily due to market-to-market ('MTM') gains recognized in 2025 as compared to MTM losses recognized in 2024 On track to deploy $3.4 billion of capital in 2025, with more than $700 million invested in the first quarter. Article content 'Emera's strong start to 2025 provides further evidence of the high quality of our portfolio, providing further support and meaningful early progress towards delivering upon our average adjusted EPS 1 growth guidance of 5-7% through 2027,' said Scott Balfour, President and CEO of Emera Inc. 'Our utilities are making significant investments to continue to improve reliability for customers, to modernize critical infrastructure and to support market growth in the communities we serve while also working to manage cost and affordability impacts for customers. This work and these investments are foundational to delivering long term value for customers and shareholders alike.' Article content Q1 2025 adjusted net income attributable to common shareholders ('adjusted net income') (1) was $379 million, or $1.28 per common share, compared with $216 million, or $0.76 per common share, in Q1 2024. The increase was primarily due to higher earnings from Tampa Electric Company ('TEC'), Nova Scotia Power Inc. ('NSPI'), Emera Energy Services ('EES') and New Mexico Gas Company ('NMGC'); the impact of a weaker Canadian dollar ('CAD') and decreased corporate operating, maintenance and general expenses ('OM&G'), partially offset by decreased income from equity investments due to the sale of Emera's indirect minority interest in the Labrador Island Link ('LIL') in Q2 2024. Article content Q1 2025 reported net income was $583 million, or $1.96 per common share, compared with net income of $207 million, or $0.73 per common share, in Q1 2024. Article content Weakening of the CAD increased adjusted net income by $14 million and increased net income attributable to common shareholders by $30 million in Q1 2025 compared to the same period in 2024. Impacts of the changes in the translation of the CAD include the impacts of Corporate FX hedges, reported in the Other segment, used to mitigate translation risk of USD earnings. Article content The following table highlights significant changes in adjusted net income from 2024 to 2025. Article content For the Three months ended millions of Canadian dollars March 31 Adjusted net income – 2024 1,2 $ 216 Operating Unit Performance Increased earnings at TEC primarily due to higher revenue from new base rates and the impact of a weaker CAD 79 Increased earnings at NSPI due to investment tax credits related to clean technology investments and increased sales volumes primarily driven by favourable weather 53 Increased earnings at EES due to favourable weather conditions that led to higher natural gas prices and increased volatility 24 Increased earnings at NMGC due to higher revenue from new base rates and the impact of a weaker CAD 19 Decreased income from equity investments due to the sale of LIL in Q2 2024 (17) Corporate Decreased OM&G primarily due to the timing difference in the valuation of long-term incentive expense and related hedges in 2024 18 Other Variances (13) Adjusted net income – 2025 1,2 $ 379 1 See 'Non-GAAP Financial Measures and Ratios' noted below and 'Segment Results and Non-GAAP Reconciliation' for reconciliation to nearest US GAAP measure. 2 Excludes the effect of MTM adjustments, net of tax. Article content Three months ended March For the millions of Canadian dollars (except per share amounts) 2025 2024 Adjusted net income 1,2 Florida Electric Utility $ 164 $ 85 Canadian Electric Utilities 121 87 Gas Utilities and Infrastructure 120 98 Other Electric Utilities – 9 Other 3 (26) (63) Adjusted net income 1,2 $ 379 $ 216 MTM gain (loss), after-tax 4 204 (9) Net income attributable to common shareholders $ 583 $ 207 EPS (basic) $ 1.96 $ 0.73 Adjusted EPS (basic) 1,2 $ 1.28 $ 0.76 1 See 'Non-GAAP Financial Measures and Ratios' noted below. 2 Excludes the effect of MTM adjustments. 3 Quarter-over-quarter, primarily due to higher contributions from EES and lower OM&G due to timing difference in the valuation of long-term incentive expense and related hedges in 2024 at corporate, partially offset by decreased income tax recovery at corporate and higher corporate interest expense. 4 Net of income tax expense of $84 million for the three months ended March 31, 2025 (2024 – $4 million tax recovery). Article content 1 Non-GAAP Financial Measures and Ratios Article content Emera uses financial measures that do not have standardized meaning under US GAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP measures and ratios by adjusting certain GAAP measures for specific items. Management believes excluding these items better distinguishes the ongoing operations of the business. For further information on the non-GAAP financial measure, adjusted net income, and the non-GAAP ratio, adjusted EPS – basic, refer to the 'Non-GAAP Financial Measures and Ratios' section of Emera's Q1 2025 MD&A, which is incorporated herein by reference and can be found on SEDAR+ at Reconciliation to the nearest GAAP measure is included in 'Segment Results and Non-GAAP Reconciliation' above. Article content This news release contains forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities regulatory filings, including under the heading 'Enterprise Risk and Risk Management' in Emera's annual Management's Discussion and Analysis, and under the heading 'Principal Financial Risks and Uncertainties' in the notes to Emera's annual and interim financial statements, which can be found on SEDAR+ at Article content The company will be hosting a teleconference today, Thursday, May 8, at 9:30 a.m. Atlantic (8:30 a.m. Eastern) to discuss the Q1 2025 financial results. Article content Analysts and other interested parties in North America are invited to participate by dialing 1-800-717-1738. International parties are invited to participate by dialing 1-289-514-5100. Participants should dial in at least 10 minutes prior to the start of the call. No pass code is required. Article content A live and archived audio webcast of the teleconference will be available on the Company's website, A replay of the teleconference will be available on the Company's website within 24 hours after the conclusion of the call. Article content Article content Article content Article content Article content Contacts Article content Article content Article content
Yahoo
08-05-2025
- Business
- Yahoo
Emera Reports 2025 First Quarter Financial Results
HALIFAX, Nova Scotia, May 08, 2025--(BUSINESS WIRE)--Today, Emera (TSX: EMA) reported 2025 first quarter financial results. Highlights Emera delivers strong first quarter results. Quarterly adjusted earnings per share ("EPS")(1) grew 68% to $1.28 in Q1 2025 compared to $0.76 in Q1 2024 driven by robust performance from across its portfolio Quarterly reported EPS increased to $1.96 in Q1 2025 from $0.73 in Q1 2024 primarily due to market-to-market ("MTM") gains recognized in 2025 as compared to MTM losses recognized in 2024 On track to deploy $3.4 billion of capital in 2025, with more than $700 million invested in the first quarter. "Emera's strong start to 2025 provides further evidence of the high quality of our portfolio, providing further support and meaningful early progress towards delivering upon our average adjusted EPS1 growth guidance of 5-7% through 2027," said Scott Balfour, President and CEO of Emera Inc. "Our utilities are making significant investments to continue to improve reliability for customers, to modernize critical infrastructure and to support market growth in the communities we serve while also working to manage cost and affordability impacts for customers. This work and these investments are foundational to delivering long term value for customers and shareholders alike." Q1 2025 Financial Results Q1 2025 adjusted net income attributable to common shareholders ("adjusted net income")(1) was $379 million, or $1.28 per common share, compared with $216 million, or $0.76 per common share, in Q1 2024. The increase was primarily due to higher earnings from Tampa Electric Company ("TEC"), Nova Scotia Power Inc. ("NSPI"), Emera Energy Services ("EES") and New Mexico Gas Company ("NMGC"); the impact of a weaker Canadian dollar ("CAD") and decreased corporate operating, maintenance and general expenses ("OM&G"), partially offset by decreased income from equity investments due to the sale of Emera's indirect minority interest in the Labrador Island Link ("LIL") in Q2 2024. Q1 2025 reported net income was $583 million, or $1.96 per common share, compared with net income of $207 million, or $0.73 per common share, in Q1 2024. Weakening of the CAD increased adjusted net income by $14 million and increased net income attributable to common shareholders by $30 million in Q1 2025 compared to the same period in 2024. Impacts of the changes in the translation of the CAD include the impacts of Corporate FX hedges, reported in the Other segment, used to mitigate translation risk of USD earnings. (1) See "Non-GAAP Financial Measures and Ratios" noted below and "Segment Results and Non-GAAP Reconciliation" below for reconciliation to nearest US GAAP measure. Consolidated Financial Review The following table highlights significant changes in adjusted net income from 2024 to 2025. For the Three months ended millions of Canadian dollars March 31 Adjusted net income – 20241,2 $ 216 Operating Unit Performance Increased earnings at TEC primarily due to higher revenue from new base rates and the impact of a weaker CAD 79 Increased earnings at NSPI due to investment tax credits related to clean technology investments and increased sales volumes primarily driven by favourable weather 53 Increased earnings at EES due to favourable weather conditions that led to higher natural gas prices and increased volatility 24 Increased earnings at NMGC due to higher revenue from new base rates and the impact of a weaker CAD 19 Decreased income from equity investments due to the sale of LIL in Q2 2024 (17) CorporateDecreased OM&G primarily due to the timing difference in the valuation of long-term incentive expense and related hedges in 2024 18 Other Variances (13) Adjusted net income – 20251,2 $ 379 1 See "Non-GAAP Financial Measures and Ratios" noted below and "Segment Results and Non-GAAP Reconciliation" for reconciliation to nearest US GAAP measure. 2 Excludes the effect of MTM adjustments, net of tax. Segment Results and Non-GAAP Reconciliation Three months ended March For the 31 millions of Canadian dollars (except per share amounts) 2025 2024 Adjusted net income1,2 Florida Electric Utility $ 164 $ 85 Canadian Electric Utilities 121 87 Gas Utilities and Infrastructure 120 98 Other Electric Utilities - 9 Other3 (26) (63) Adjusted net income1,2 $ 379 $ 216 MTM gain (loss), after-tax4 204 (9) Net income attributable to common shareholders $ 583 $ 207 EPS (basic) $ 1.96 $ 0.73 Adjusted EPS (basic)1,2 $ 1.28 $ 0.76 1 See "Non-GAAP Financial Measures and Ratios" noted below. 2 Excludes the effect of MTM adjustments. 3 Quarter-over-quarter, primarily due to higher contributions from EES and lower OM&G due to timing difference in the valuation of long-term incentive expense and related hedges in 2024 at corporate, partially offset by decreased income tax recovery at corporate and higher corporate interest expense. 4 Net of income tax expense of $84 million for the three months ended March 31, 2025 (2024 - $4 million tax recovery). 1 Non-GAAP Financial Measures and Ratios Emera uses financial measures that do not have standardized meaning under US GAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP measures and ratios by adjusting certain GAAP measures for specific items. Management believes excluding these items better distinguishes the ongoing operations of the business. For further information on the non-GAAP financial measure, adjusted net income, and the non-GAAP ratio, adjusted EPS – basic, refer to the "Non-GAAP Financial Measures and Ratios" section of Emera's Q1 2025 MD&A, which is incorporated herein by reference and can be found on SEDAR+ at Reconciliation to the nearest GAAP measure is included in "Segment Results and Non-GAAP Reconciliation" above. Forward Looking Information This news release contains forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities regulatory filings, including under the heading "Enterprise Risk and Risk Management" in Emera's annual Management's Discussion and Analysis, and under the heading "Principal Financial Risks and Uncertainties" in the notes to Emera's annual and interim financial statements, which can be found on SEDAR+ at Teleconference Call The company will be hosting a teleconference today, Thursday, May 8, at 9:30 a.m. Atlantic (8:30 a.m. Eastern) to discuss the Q1 2025 financial results. Analysts and other interested parties in North America are invited to participate by dialing 1-800-717-1738. International parties are invited to participate by dialing 1-289-514-5100. Participants should dial in at least 10 minutes prior to the start of the call. No pass code is required. A live and archived audio webcast of the teleconference will be available on the Company's website, A replay of the teleconference will be available on the Company's website within 24 hours after the conclusion of the call. About Emera Emera (TSX: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.6 million customers in Canada, the United States and the Caribbean. Our team of 7,600 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange. Additional information can be accessed at or View source version on Contacts Emera Relations Dave Bezanson, VP, Investor Relations & Media 902-478-0080media@
