Emera Reports Q2 2017 Earnings

Aug 11, 2017

Emera (TSX: EMA) reported results for the second quarter of 2017.

Q2 2017 Highlights:

Reported Net Income:

  • Reported Q2 2017 net income of $101 million, compared with net income of $208 million in Q2 2016.
  • Reported earnings per common share in Q2 2017 were $0.47, compared with $1.39 per common share in Q2 2016.

Adjusted Net Income (excluding after-tax mark-to-market impacts):

Adjusted net income (1) was $117 million, or $0.55 per common share, in Q2 2017, compared with $238 million or $1.59 per common share in Q2 2016. Excluding the Q2 2016 gains, acquisition costs and tax adjustment Q2 2016 adjusted earnings would have been $50 million, or $0.34 on a per share basis.

After-tax mark-to-market losses decreased $14 million to $16 million in Q2 2017 compared to $30 million in Q2 2016 mainly due to changes in existing positions on long-term natural gas contracts at Emera Energy.

Q2 2017 adjusted net income (1) included a contribution of $58 million from Emera Florida and New Mexico, net of the $45 million of permanent financing cost.

Click here to read the full press release.

For more information:

Emera Inc.

1894 Barrington St
Halifax, Nova Scotia
Canada, B3J 2A8
Tel: 902-450-0507

Link http://electricenergyonline.com/detail_news.php?ID=650285
Most consulted news
Click here to try the new version of Electric Energy Online!