06:59 AM EST, 02/21/2025 (MT Newswires) -- Emera ( EMRAF ) on Friday reported fourth-quarter adjusted earnings that beat estimates.

The energy services company posted adjusted earnings of $246 million, or $0.84 per share, beating the FactSet analyst consensus forecast of $0.76 per share and above the $175 million, or $0.63 per share, recorded last year.

Emera ( EMRAF ) attributed the higher adjusted earnings to increased income across all of its regulated utilities, as well as higher corporate income tax recovery.

These were partially offset by lower equity earnings due to the sale of LIL in the second quarter of 2024, higher corporate operating, maintenance and general expense due to the timing of long-term incentive expenses and related hedges, increased Corporate interest expense, and decreased earnings at Emera Energy.

GAAP net income was $154 million, or $0.52 per share, below the FactSet analyst consensus estimate of $0.77 and lower than the year-ago net income of $289 million, or $1.04 per share.

"2024 was a year of significant progress for Emera ( EMRAF )," President and CEO Scott Balfour said. "We delivered on our key objectives and in doing so, have strategically positioned the business to meet the evolving demands within our industry and capitalize on the robust organic growth opportunities in our Florida utilities."

For 2025, Emera ( EMRAF ) said it will focus on executing its five-year $20 billion capital plan, grid modernization and infrastructure expansion, as well as growing earnings and cash flow.