CenterPoint Energy second-quarter profit drops 41%
July 27 (Reuters) - CenterPoint Energy Inc on Thursday reported a 41% fall in second-quarter profit and increased its annual capital plan by 11% to $4 billion.
The earnings included losses and expenses of $74 million related to the divesture of Energy Systems Group LLC.
Large U.S. electric utilities are investing on low-carbon projects to move away from fuel-powered generation and on modern grids, a plan that requires major investments.
Analysts have flagged the reported quarter to be likely a fairly weak one across the industry due to continued mild weather and interest expense pressure.
The Houston, Texas-based company posted net income available to common shareholders of $106 million, or 17 cents per share, for the three months ended June 30, compared with $179 million or 28 cents, in the year-ago quarter.
CenterPoint also re-affirmed its annual adjusted profit outlook of $1.48 to $1.50 per share, compared with analysts expectation of $1.49 per share, according to Refinitiv data. (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)
