CenterPoint Energy, Inc. (CNP - Free Report) reported fourth-quarter 2022 adjusted earnings of 28 cents per share, which lagged the Zacks Consensus Estimate of 29 cents by 3.4%.
In the fourth quarter, CenterPoint Energy registered GAAP earnings of 19 cents per share compared with the $1.01 recorded in the prior-year quarter.
For the full-year 2022, CNP reported adjusted earnings of $1.38 per share compared with $1.64 in the previous year’s quarter. Earnings missed the Zacks Consensus Estimate of $1.39 by 0.7%.
Segment Earnings
Midstream reported a loss of $12 million in the reported quarter compared to earnings of $616 million in the prior-year period.
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects to generate adjusted earnings per share (EPS) in the range of $1.48-$1.50. The Zacks Consensus Estimate for 2023 earnings is pegged at $1.49 per share, which is in line with the midpoint of the company’s guided range.
Zacks Rank
CenterPoint Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Consolidated Edison, Inc. (ED - Free Report) reported fourth-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 3.9%. However, the bottom line declined 19% from $1.00 in the prior-year quarter.
In the reported quarter, the company’s total revenues of $4,031 million surpassed the Zacks Consensus Estimate of $3,518 million by 14.6%. The top line also improved 18% from $3,415 million in the year-ago quarter. The upside was attributable to higher electric, gas and steam as well as non-utility revenues.
Hawaiian Electric Industries, Inc. (HE - Free Report) reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
Ameren Corporation’s (AEE - Free Report) fourth-quarter 2022 earnings of 63 cents per share surpassed the Zacks Consensus Estimate of 56 cents by 12.5%. The reported figure increased 31.3% year over year.
Total revenues came in at $2,046 million in the reported quarter, which improved 32.4% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,598 million by 28%.
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CenterPoint Energy, Inc. (CNP - Free Report) reported fourth-quarter 2022 adjusted earnings of 28 cents per share, which lagged the Zacks Consensus Estimate of 29 cents by 3.4%.
In the fourth quarter, CenterPoint Energy registered GAAP earnings of 19 cents per share compared with the $1.01 recorded in the prior-year quarter.
For the full-year 2022, CNP reported adjusted earnings of $1.38 per share compared with $1.64 in the previous year’s quarter. Earnings missed the Zacks Consensus Estimate of $1.39 by 0.7%.
Segment Earnings
Midstream reported a loss of $12 million in the reported quarter compared to earnings of $616 million in the prior-year period.
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects to generate adjusted earnings per share (EPS) in the range of $1.48-$1.50. The Zacks Consensus Estimate for 2023 earnings is pegged at $1.49 per share, which is in line with the midpoint of the company’s guided range.
Zacks Rank
CenterPoint Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Consolidated Edison, Inc. (ED - Free Report) reported fourth-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 3.9%. However, the bottom line declined 19% from $1.00 in the prior-year quarter.
In the reported quarter, the company’s total revenues of $4,031 million surpassed the Zacks Consensus Estimate of $3,518 million by 14.6%. The top line also improved 18% from $3,415 million in the year-ago quarter. The upside was attributable to higher electric, gas and steam as well as non-utility revenues.
Hawaiian Electric Industries, Inc. (HE - Free Report) reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
Ameren Corporation’s (AEE - Free Report) fourth-quarter 2022 earnings of 63 cents per share surpassed the Zacks Consensus Estimate of 56 cents by 12.5%. The reported figure increased 31.3% year over year.
Total revenues came in at $2,046 million in the reported quarter, which improved 32.4% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,598 million by 28%.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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