Emera Q2 2026: Adjusted EPS $0.69, NMGC Sale Approved, $1.5B Debt Issued
EMA sits 15% above its 52-week low of $45.77 on elevated volume (2.9× avg).
Summary
Emera reported Q2 2026 adjusted EPS of $0.69, announced final regulatory approval for the New Mexico Gas sale, and highlighted $1.5B in recent debt refinancing. The quarter included a loss on the Grand Bahama Power sale and higher mark-to-market losses, but year-to-date adjusted earnings are slightly ahead of last year.
Key Events · Earnings and Guidance · EMA
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Q2 2026 Earnings
Adjusted EPS of $0.69 vs $0.79 in Q2 2025; reported EPS of $0.34. Year-to-date adjusted net income of $627M, up 2% from $615M.
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NMGC Sale Approved
NMPRC issued final order approving the $1.3B USD sale of New Mexico Gas on July 30, 2026; transaction expected to close in August 2026.
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GBPC Sale Completed
Sale of Grand Bahama Power closed May 12, 2026, resulting in a $19M after-tax loss.
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Debt Refinancing
Emera Finance issued $750M USD in hybrid notes and $750M USD in senior notes in March 2026 to redeem $1.2B USD of 2016 hybrids and repay a $750M USD note.
Analysis · EMA · Energy & Transportation
Emera's Q2 2026 results show adjusted EPS of $0.69, down from $0.79 a year ago, but year-to-date adjusted net income rose slightly to $627M. The quarter included a $19M after-tax loss on the sale of Grand Bahama Power and a $59M increase in mark-to-market losses. More importantly, the pending $1.3B USD sale of New Mexico Gas received final regulatory approval on July 30 and is expected to close this month, which will sharpen Emera's focus on its core Florida and Canadian utilities. The company also completed $1.5B in debt issuances in March to refinance maturing obligations, and raised $184M through its ATM equity program. With a $20B five-year capital plan and 5-7% adjusted EPS growth target, the results and strategic moves reinforce a steady, regulated utility story, though higher interest costs and FX headwinds are pressuring near-term earnings.
At the time of this filing, EMA was trading at $52.79 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $15.5B. The 52-week trading range was $45.77 to $55.49. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.