Emera Inc (OTCPK:EMRAF)

$ 36.31 -0.96 (-2.58%) Market Cap: 10.67 Bil Enterprise Value: 24.47 Bil PE Ratio: 23.53 PB Ratio: 1.40 GF Score: 72/100

Q3 2024 Emera Inc Earnings Call Transcript

Nov 8, 2024 / 10:00 PM GMT

Release Date Price: $36.17 (+0.84%)

Transcript

Key Points

Positve

Emera Inc (EMRAF) reported an 8% increase in adjusted earnings per share for Q3 2024 compared to the previous year, driven by strong performance in its Florida businesses.
The company has successfully managed to recover approximately $650 million of deferred fuel and storm costs at Tampa Electric over a 21-month period, demonstrating effective regulatory mechanisms.
Emera Inc (EMRAF) announced its 18th consecutive year of dividend increases, reflecting confidence in its asset portfolio and financial management.
The company's investments in storm protection have resulted in improved reliability, with Tampa Electric experiencing its best-ever reliability in 2023.
Emera Inc (EMRAF) has strengthened its balance sheet through strategic actions, including asset sales and a $500 million federal loan guarantee for Nova Scotia Power, enhancing financial stability.

Negative

Emera Inc (EMRAF) faced significant restoration costs due to hurricanes Helene and Milton, with estimated costs ranging from $365 to $425 million, impacting financial resources.
The company experienced a goodwill impairment loss related to the sale of New Mexico Gas, affecting reported earnings for the quarter.
Higher interest costs and lower contributions from Canadian utilities and Emera Energy negatively impacted cash flow and earnings.
The sale of the Labrador Island link reduced contributions from Canadian equity investments, impacting earnings from Canadian electric utilities.
Emera Inc (EMRAF) is facing challenges in Nova Scotia with potential political changes and discussions around rate increases, which could impact future financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EMA.TO - Emera Inc
Q3 2024 Emera Inc Earnings Call
Nov 08, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen and welcome to the Amira Q3, 2024 conference call at this time. All lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call, you require immediate assistance. Please press star zero for the operator.

This call is being recorded on Friday, November 8th 2024. I would now like to turn the conference over to Dave Bezanson, Vice President of Investor Relations. Please go ahead.

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Unidentified_2 [2]
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Thank you John and thank you all for joining us for this

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