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CenterPoint Energy (CNP) Beats on Q3 Earnings, Ups EPS View

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  • CNP
  • PEG

CenterPoint Energy, Inc. CNP reported third-quarter 2021 adjusted earnings of 33 cents per share, which surpassed the Zacks Consensus Estimate of 29 cents by 13.8%. The bottom line however declined 2.9% from the year-ago quarter’s figure.

The company registered GAAP earnings of 32 cents per share compared with 13 cents recorded in the prior-year quarter.

The year-over-year upside can be attributed to organic growth throughout the company’s service territories combined with capital investments as well as operations and maintenance discipline.

CenterPoint Energy, Inc. Price, Consensus and EPS Surprise

CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise

CenterPoint Energy, Inc. price-consensus-eps-surprise-chart | CenterPoint Energy, Inc. Quote

Revenues

CenterPoint Energy’s total revenues in the quarter were $1,749 million, which exceeded the Zacks Consensus Estimate of $1,602 million by 9.2%. Moreover, the reported figure came in 7.8% higher than the prior-year quarter’s figure.

Higher contributions from both the utility and non-utility segments contributed to the top-line growth.

Operational Results

Total expenses during the third quarter escalated 11.4% to $1,471 million.

The company’s operating income declined 7.9% year over year to $278 million in the quarter.

Interest expense and other finance charges declined to $114 million from $121 million in the year-ago quarter.

Financial Condition

As of Sep 30, 2021, CenterPoint Energy had cash and cash equivalents of $133 million, down from $147 million as of Dec 31, 2020.

Total long-term debt was $15,394 million as of Sep 30, 2021, compared with $11,521 million as of Dec 31, 2020.

At the end of third-quarter 2021, the company’s net cash outflow from operating activities was $551 million against a cash inflow of $1,439 million at third-quarter 2020-end.

Further, CenterPoint Energy’s total capital expenditure was $2,148 million at the end of the third quarter, up from $1,889 million in the year-ago period.

2021 Guidance

CenterPoint Energy raised its 2021 earnings guidance. The company currently expects to generate earnings per share in the range of $1.26-$1.28 compared with the prior guidance range of $1.25-$1.27.

The Zacks Consensus Estimate for current-year earnings is pegged at $1.51 per share, which lies much above the newly guided range.

Zacks Rank

CenterPoint Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

American Electric Power AEP reported third-quarter 2021 adjusted earnings per share of $1.43, which missed the Zacks Consensus Estimate of $1.44 by 0.7%.

NextEra Energy NEE reported third-quarter 2021 adjusted earnings of 75 cents per share, which exceeded the Zacks Consensus Estimate of 72 cents by 4.2%.

Public Service Enterprise Group Incorporated PEG, or PSEG, reported third-quarter 2021 adjusted operating earnings of 98 cents per share, which surpassed the Zacks Consensus Estimate of 92 cents per share by 6.5%.


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Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report

American Electric Power Company, Inc. (AEP) : Free Stock Analysis Report

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