06:32 AM EST, 11/07/2025 (MT Newswires) -- Emera ( EMA ) on Friday reported that its adjusted net income rose year over year in the third quarter, citing higher earnings from its Tampa Electric unit.

Adjusted net income was C$263 million, or $0.88 per share, up from $236 million, or $0.81 per share. The result beat the third-quarter non-GAAP earnings per share consensus estimate of $0.85 compiled by FactSet.

Adjusted net income in the third quarter was partially offset by lower earnings at Nova Scotia Power and New Mexico Gas, as well as higher corporate costs.

The company also introduced a five-year capital plan of $20 billion and extended its 7-8% rate base growth guidance through 2030.

Approximately 80% of the capital plan is directed toward investments in Florida, focused on strengthening and storm hardening systems. Emera ( EMA ) will also continue to deliver an 8-9% expected rate base growth for its Florida utilities.

About 90% of the capital plan is allocated to reliability and grid modernization projects, renewable asset integration, and technological innovation, including increased spending on cybersecurity and artificial intelligence.

An estimated 55% of investments will specifically be focused on strengthening electric transmission, distribution and gas infrastructure systems to support reliability and customer growth.