EMA FY 2025 Earnings Report — Emera Incorporated Revenue & Financial Results | Market Cap Arena

Emera IncorporatedEMA

FY 2025 Earnings

Reported February 23, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$6.1B	—	$5.3B	—	15.3%
Op. Income	$1.1B	—	$789M	—	44.0%
Gross Margin	24.6%	—	40.3%	—	-15.8pp
Net Margin	13.1%	—	7.9%	—	5.2pp
EPS (Diluted)	$2.47	—	$1.25	—	97.7%
Free Cash Flow	-$1.3B	—	-$369M	—	-242.3%

Revenue Flow

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$4.6B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$355M
Operating Expenses	$355M
Cost & Expenses	$4.9B
OPERATING INCOME	$1.1B
Interest Income	$27M
Interest Expense	$755M
Other Income/Expenses	-$281M
INCOME BEFORE TAX	$855M
Income Tax Expense	$59M
Net Income from Continuing Ops	$796M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$795M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$740M
D&A	$948M
EBIT	$1.6B
EBITDA	$2.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$4.6B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$355M
Operating Expenses	$355M
Cost & Expenses	$4.9B
OPERATING INCOME	$1.1B
Interest Income	$27M
Interest Expense	$755M
Other Income/Expenses	-$281M
INCOME BEFORE TAX	$855M
Income Tax Expense	$59M
Net Income from Continuing Ops	$796M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$795M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$740M
D&A	$948M
EBIT	$1.6B
EBITDA	$2.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$795M
Depreciation & Amortization	$948M
Stock-Based Compensation	$0
Deferred Income Tax	$52M
Other Non-Cash Items	$74M
Change in Working Capital	-$553M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$2.6B
Acquisitions (Net)	$35M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	$1.8B
Common Stock Repurchased	$0
Common Dividends Paid	-$421M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$1.3B
FREE CASH FLOW	-$1.3B
Net Change in Cash	$118M

Balance Sheet

Item	Amount
Cash & Equivalents	$267M
Short-Term Investments	$0
Net Receivables	$1.4B
Inventory	$599M
Other Current Assets	$841M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$20.0B
Goodwill	$4.1B
Intangible Assets	$0
Long-Term Investments	$911M
Tax Assets	$307M
Other Non-Current Assets	$4.2B
TOTAL NON-CURRENT ASSETS	$29.5B
TOTAL ASSETS	$32.7B
Account Payables	$1.4B
Short-Term Debt	$2.2B
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$4.8B
Long-Term Debt	$13.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.8B
Other Non-Current Liabilities	$2.7B
TOTAL NON-CURRENT LIABILITIES	$18.1B
TOTAL LIABILITIES	$22.9B
Common Stock	$6.9B
Additional Paid-In Capital	$63M
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	$637M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.8B
Minority Interest	$10M
TOTAL EQUITY	$9.8B
TOTAL LIABILITIES & EQUITY	$32.7B
Total Debt	$15.8B
Net Debt	$15.5B