CenterPoint Energy's (CNP) Q4 Earnings Surpass Estimates

CenterPoint Energy, Inc. CNP reported fourth-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 31 cents by 13.9%. The bottom line also improved 24.1% from the year-ago quarter’s figure.

In the fourth quarter, CenterPoint Energy registered GAAP earnings of $1.01 per share compared with 27 cents recorded in the prior-year quarter.

CenterPoint Energy reported earnings per share (EPS) of $1.64 for full-year 2021, which increased 17.1% from $1.40 reported in 2020 and also beat the Zacks Consensus Estimate of $1.50 by 9.3%.

Revenues

In 2021, CNP generated sales worth $8.35 billion, up 12.6% from the year-ago figure. Sales beat the Zacks Consensus Estimate of $8.17 billion by 2.2%.

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

Operational Results

Total expenses during 2021 escalated 9.6% to $6,989 million.

The company’s operating income surged 31.2% year over year to $1,363 million in the quarter.

Interest expense and other finance charges increased to $508 million from $501 million in the year-ago quarter.

Financial Condition

As of Dec 31, 2021, CenterPoint Energy had cash and cash equivalents of $230 million, up from $147 million as of Dec 31, 2020.

Total long-term debt was $15,558 million as of Dec 31, 2021 compared with $11,521 million as of Dec 31, 2020.

CNP’s net cash flow from operating activities was $22 million in 2021 compared with $1,995 million in the year-ago period.

Further, CenterPoint Energy’s total capital expenditure was $3,164 million in 2021, up from $2,596 million in the year-ago period.

2022 Guidance

CenterPoint Energy reaffirmed its 2022 earnings guidance. CNP currently expects to generate EPS in the range of $1.36-$1.38. The Zacks Consensus Estimate for 2022 earnings is pegged at $1.41 per share, which is more than the 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

Hawaiian Electric Industries, Inc. HE reported EPS of 50 cents for the fourth quarter of 2021, which surpassed the Zacks Consensus Estimate of 45 cents by 11.1%. The bottom line also improved 8.7% from 46 cents per share in the prior-year quarter.

The Zacks Consensus Estimate for Hawaiian Electric’s 2022 earnings is pegged at $2.12 per share, which implies a year-over-year decline of 5.8%. HE boasts a long-term (three to five years) earnings growth rate of 3.2%.

DTE Energy Company DTE reported fourth-quarter 2021 operating EPS of $1.05, which surpassed the Zacks Consensus Estimate of 94 cents by 11.7%. The bottom line also increased 1.9% from the year-ago quarter’s $1.03 per share.

The Zacks Consensus Estimate for DTE Energy’s 2022 earnings is pegged at $5.94 per share, which implies a year-over-year decline of 0.8%. DTE boasts a long-term earnings growth rate of 6%.

CMS Energy Corporation CMS reported fourth-quarter 2021 adjusted EPS of 47 cents from continuing operations, which met the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.

The Zacks Consensus Estimate for CMS Energy’s 2022 earnings is pegged at $2.87 per share, which implies year-over-year growth of 8.3%. CMS boasts a long-term earnings growth rate of 8.1%.

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