06:51 AM EDT, 08/09/2024 (MT Newswires) -- Emera (EMA.TO) on Friday reported a decrease in second-quarter adjusted net income, citing higher corporate costs and lower earnings at its units Nova Scotia Power and New Mexico Gas.

Second-quarter adjusted net income fell to $151 million, or $0.53 per share, from $162 million, or $0.60 per share.

Net income attributable to common shareholders increased to $129 million, or $0.45 per share, from $28 million, or $0.10 per share.

Emera said it is on track to deploy $2.9 billion in capital in 2024, with $1.4 billion already invested in the first half of the year.

"While our adjusted earnings were lower for the quarter and for the year to date, we expect stronger results for the balance of the year," said Emera President and CEO Scott Balfour. "We saw strong operational performance and customer growth in our utilities, particularly Tampa Electric and Peoples Gas, which underscores the significance of our Florida operations and reinforces the strategic decision to reallocate capital to invest in our strongest businesses."