April 27, 2017 1:13 PM 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 Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Emera Maine announced earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported operating revenues of USD 59 million compared with USD 60 million for the same period a year ago. Income from operations was USD 23 million compared with USD 21 million for the same period a year ago. Income before provision for income taxes was USD 20 million compared with USD 18 million for the same period a year ago. EBITDA was USD 31 million compared to USD 30 million a year ago. For the nine months, the company reported operating revenues of USD 168 million compared with USD 170 million for the same period a year ago. Income from operations was USD 50 million compared with USD 57 million for the same period a year ago. Income before provision for income taxes was USD 41 million compared with USD 50 million for the same period a year ago. EBITDA was USD 79 million compared to USD 87 million a year ago.

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.

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Recent Private Companies Transactions

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Date
Target
No transactions available in the past 12 months.
 

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