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CenterPoint Energy (CNP) Q1 Earnings Beat, Revenues Up Y/Y

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CenterPoint Energy, Inc. CNP reported first-quarter 2021 adjusted earnings of 59 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 18%. The bottom line also improved 18% from the year-ago quarter’s 50 cents.

The company registered GAAP earnings of 56 cents per share against a GAAP loss of $2.44 in the prior-year quarter.

The year-over-year upside can be attributed to the increasing strength of the company’s utility operations.

Revenues

CenterPoint Energy’s total revenues in the quarter were $2,547 million, which exceeded the Zacks Consensus Estimate of $2,256 million by 12.9%. Moreover, the reported figure came in 17.5% higher than the prior-year quarter’s $2,167 million.

Higher contribution from the utility segment boosted the top line.

Operational Results

Total expenses during the first quarter escalated 7.4% to $2,094 million.

The company’s operating income surged 108.7% year over year to $453 million in the quarter.

Interest and other finance charges declined to $113 million from $139 million in the year-ago quarter.

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

Financial Condition

As of Mar 31, 2021, CenterPoint Energy had cash and cash equivalents of $146 million, down from $147 million as of Dec 31, 2020.

Total long-term debt was $14,048 million as of Mar 31, 2021, compared with $11,521 million as of Dec 31, 2020.

At the end of first-quarter 2021, the company’s net cash outflow from operating activities was $1,681 million against the cash inflow of $662 million at first-quarter 2020-end.

Further, CenterPoint Energy’s total capital expenditure was $594 million in the first quarter, down from $664 million in the year-ago quarter.

2021 Guidance

CenterPoint Energy reiterated its 2021 earnings guidance. The company still expects to generate earnings of $1.24-$1.26 per share.

The Zacks Consensus Estimate for current-year earnings is pegged at $1.43 per share, which lies above the company-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

DTE Energy Company DTE reported first-quarter 2021 operating earnings per share (EPS) of $2.44, which surpassed the Zacks Consensus Estimate of $2.16 by 13%.

American Electric Power Co., Inc. AEP reported first-quarter 2021 adjusted earnings per share of $1.15, which missed the Zacks Consensus Estimate of $1.23 by 6.5%.

NextEra Energy, Inc. NEE reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.

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

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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

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