HALIFAX – Emera (TSX:EMA) is reporting strong first-quarter earnings that show it generated $202.8 million in profits in the first quarter of this year, $80 million more than the same period last year.
The Halifax-based energy company also says its operating revenues increased 65 per cent to $1.05 billion, compared with $638.1 million in the first quarter of 2013.
Earnings per share, including mark-to-market gains, were $1.43, up from 93 cents in the first quarter of last year.
Chris Huskilson, Emera’s president and CEO, says the company had a strong start to 2014, thanks in part to its success at securing $1.3 billion of debt financing for the Maritime Link project.
That development is being built to ship hydroelectricity to Nova Scotia from the Muskrat Falls project in Labrador.