EMA Q4 2023 Earnings Report — Emera Incorporated Revenue & Financial Results | Market Cap Arena

Emera IncorporatedEMA

Q4 2023 Earnings

Reported December 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2023	Q3 2023	Q4 2022	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.7B	—	-16.4%
Op. Income	$369M	—	$526M	—	-29.9%
Gross Margin	44.8%	—	48.6%	—	-3.8pp
Net Margin	15.6%	—	21.2%	—	-5.6pp
EPS (Diluted)	$0.76	—	$1.32	—	-42.2%
Free Cash Flow	-$330M	—	-$683M	—	51.7%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$795M
GROSS PROFIT	$646M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$38M
Other Expenses	$239M
Operating Expenses	$277M
Cost & Expenses	$1.1B
OPERATING INCOME	$369M
Interest Income	$0
Interest Expense	$176M
Other Income/Expenses	-$107M
INCOME BEFORE TAX	$262M
Income Tax Expense	$37M
Net Income from Continuing Ops	$224M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$224M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$194M
EBIT	$413M
EBITDA	$607M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$795M
GROSS PROFIT	$646M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$38M
Other Expenses	$239M
Operating Expenses	$277M
Cost & Expenses	$1.1B
OPERATING INCOME	$369M
Interest Income	$0
Interest Expense	$176M
Other Income/Expenses	-$107M
INCOME BEFORE TAX	$262M
Income Tax Expense	$37M
Net Income from Continuing Ops	$224M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$224M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$194M
EBIT	$413M
EBITDA	$607M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$224M
Depreciation & Amortization	$194M
Stock-Based Compensation	$20M
Deferred Income Tax	$0
Other Non-Cash Items	-$55M
Change in Working Capital	-$75M
OPERATING CASH FLOW	$309M
Capital Expenditure	-$639M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$637M
Net Debt Issuance	$854M
Common Stock Repurchased	$0
Common Dividends Paid	-$108M
Other Financing Activities	-$181M
NET CASH FROM FINANCING	$565M
FREE CASH FLOW	-$330M
Net Change in Cash	$230M

Balance Sheet

Item	Amount
Cash & Equivalents	$414M
Short-Term Investments	$0
Net Receivables	$850M
Inventory	$577M
Other Current Assets	$791M
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$17.8B
Goodwill	$4.3B
Intangible Assets	$0
Long-Term Investments	$1.0B
Tax Assets	$152M
Other Non-Current Assets	$2.9B
TOTAL NON-CURRENT ASSETS	$26.1B
TOTAL ASSETS	$28.9B
Account Payables	$1.1B
Short-Term Debt	$1.5B
Deferred Revenue	$0
Other Current Liabilities	$504M
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$12.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.7B
Other Non-Current Liabilities	$2.1B
TOTAL NON-CURRENT LIABILITIES	$16.7B
TOTAL LIABILITIES	$20.0B
Common Stock	$6.2B
Additional Paid-In Capital	$60M
Retained Earnings	$1.3B
Treasury Stock	$0
Accum. Other Comp. Income	$223M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.8B
Minority Interest	$10M
TOTAL EQUITY	$8.8B
TOTAL LIABILITIES & EQUITY	$28.9B
Total Debt	$14.5B
Net Debt	$14.1B