06:55 AM EDT, 05/13/2024 (MT Newswires) -- Emera ( EMRAF ) on Monday reported first-quarter adjusted earnings per share that fell 23% due to weather and an unusually strong prior-year quarter.

The energy and services company reported a first-quarter adjusted net income of $216 million, or $0.76 per share, down from $268 million, or $0.99 per share.

Net income attributable to common shareholders also fell to $207 million, or $0.73 per share, from $560 million, or $2.07 per share.

Emera ( EMRAF ) said the decrease in adjusted net income can be attributed to the impact of milder weather at Tampa Electric during the quarter, lower contributions from New Mexico Gas' asset management agreement, lower earnings at Nova Scotia Power, lower contributions from marketing and trading at Emera Energy Services and higher corporate costs.

"We remain confident in the underlying forward-looking growth profile of our business, driven in large part by our two operations in Florida," said Scott Balfour, president and CEO of Emera ( EMRAF ). "Peoples Gas is on track to become our second largest earnings contributor in 2024, behind Tampa Electric."