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CenterPoint Energy (CNP) Q1 Earnings Beat, Revenues Up Y/Y
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CenterPoint Energy, Inc. (CNP - Free Report) 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
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.
DTE Energy Company (DTE - Free Report) 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 - Free Report) 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 - Free Report) 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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Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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CenterPoint Energy (CNP) Q1 Earnings Beat, Revenues Up Y/Y
CenterPoint Energy, Inc. (CNP - Free Report) 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-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 - Free Report) 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 - Free Report) 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 - Free Report) reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>