Emera streamlines operations with the sale of New Mexico Gas, focusing on a $4 billion capital investment plan despite a recent dip in quarterly earnings.
Emera's Q2 adjusted EPS declined to $0.69 from $0.79, but management reaffirmed above-range growth for 2026 after completing the New Mexico Gas sale.
Emera has finalized the divestiture of New Mexico Gas Company, marking the conclusion of its portfolio simplification strategy. Despite a decline in Q2 adjusted EPS to $0.69 from $0.79 due to higher interest expenses and currency headwinds, management reaffirmed its commitment to exceeding its 5% to 7% annual growth target through 2026.
The decline to $0.69 from $0.79 was primarily driven by higher interest expenses on long-term debt, currency losses on US dollar short-term debt, and increased operating costs within the New Mexico Gas unit.