July 30, 2016 10:31 AM ET

Electric Utilities

Company Overview of Emera Maine

Company Overview

Emera Maine provides electric delivery services to residential and business clients in the Bangor Hydro District and the Maine Public District. The company is based in Bangor, Maine. Emera Maine was formerly known as Bangor Hydro-Electric Company and changed its name to Emera Maine in November 2015. The company is a subsidiary of BHE Holdings, Inc.

PO Box 932

Bangor, ME 04402

United States

302 Employees

Phone:

207-973-2000

Key Executives for Emera Maine

Chief Executive Officer, President and Chief Operating Officer
Vice President of Finance and Treasurer
Vice President of Corporate Relations
Vice President of Legal and Regulatory Affairs
Vice President of Human Services
Compensation as of Fiscal Year 2016.

Emera Maine Key Developments

Emera Maine Reports Earnings Results for the First Quarter of 2016; Provides Earnings Guidance for the Full Year 2016

Emera Maine reported earnings results for the first quarter of 2016. The company reported net income of CAD 9.3 million a reduction of CAD 2.2 million compared to first quarter of 2015 of CAD 11.5 million. The lower net income was primarily as a result of reduced load due to weather, reduced industrial load, increased storm costs and timing of capital expenditures, partially offset by increased rates, and the effect of a stronger USD. earnings for the full year are expected to generally be consistent with prior years. The company's earnings for the full year 2016 are expected to generally be consistent with prior years.

Emera Maine Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015

Emera Maine reported earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company's adjusted net income was $5.2 million compared to $11.7 million a year ago. The decrease in net income in the quarter was primarily due to the timing of transmission revenue adjustments negatively impacting fourth quarter 2015 and positively impacting fourth quarter 2014 and increased OM&G expenses. For the year, the company's adjusted net income was $45.1 million compared to $42.4 million a year ago. The higher net income year-over-year was primarily due to the impact of a stronger USD.

Emera Maine Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Emera Maine announced earnings results for the third quarter and nine months ended September 30, 2015. The company reported net income of CAD 14.7 million in third quarter of 2015, an increase of CAD 1.4 million compared to third quarter of 2014 net income of CAD 13.3 million. The higher net income was primarily due to the impact of a stronger USD. For the nine months ended September 30th, 2015 Emera Maine’s net income was CAD 39.9 million compared to CAD 30.7 million for the same period last year.

Similar Private Companies By Industry

Company Name Region
3 Phases Renewables, LLC United States
Abacus Resources Energy, LLC United States
Access Energy, LLC United States
Adams Electric Cooperative, Inc. United States
Adams-Columbia Electric Cooperative United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Emera Maine, please visit www.emeramaine.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.