CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2023 adjusted earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 4.2%. The bottom line also improved 6.4% from the year-ago quarter’s figure of 47 cents.
The company registered GAAP earnings of 49 cents per share compared with 82 cents in the prior-year quarter.
Q1 Revenues
CNP generated revenues of $2,779 million, up 0.6% from the year-ago figure. The top line missed the Zacks Consensus Estimate of $2,792 million by 0.5%.
Operational Results
Total expenses during the reported quarter decreased 2.1% to $2,238 million.
Operating income increased 13.4% year over year to $541 million.
Interest expenses and other finance charges totaled $148 million, down 6.4% from $153 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2023, CenterPoint Energy had cash and cash equivalents of $112 million compared with $75 million as of Dec 31, 2022.
Total long-term debt was $15,783 million as of Jun 30, 2022, compared with $14,836 million as of Dec 31, 2022.
Net cash flow from operating activities was $1,713 million as of Mar 31, 2023, compared with $580 million in the year-ago period.
Total capital expenditure was $587 million compared with $491 million in the prior-year quarter.
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects adjusted earnings per share 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 #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.
NextEra’s operating revenues were $6,716 million, which beat the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.
Entergy’s revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.
American Water Works’ (AWK - Free Report) first-quarter 2023 earnings of $0.91 per share missed the Zacks Consensus Estimate of $0.92 per share. The company reported earnings of $0.87 per share in the prior-year quarter.
AWK reported revenues of $938 million, which surpassed the Zacks Consensus Estimate by 6.82%. It recorded revenues of $842 million in the year-ago period.
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CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2023 adjusted earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 4.2%. The bottom line also improved 6.4% from the year-ago quarter’s figure of 47 cents.
The company registered GAAP earnings of 49 cents per share compared with 82 cents in the prior-year quarter.
Q1 Revenues
CNP generated revenues of $2,779 million, up 0.6% from the year-ago figure. The top line missed the Zacks Consensus Estimate of $2,792 million by 0.5%.
Operational Results
Total expenses during the reported quarter decreased 2.1% to $2,238 million.
Operating income increased 13.4% year over year to $541 million.
Interest expenses and other finance charges totaled $148 million, down 6.4% from $153 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2023, CenterPoint Energy had cash and cash equivalents of $112 million compared with $75 million as of Dec 31, 2022.
Total long-term debt was $15,783 million as of Jun 30, 2022, compared with $14,836 million as of Dec 31, 2022.
Net cash flow from operating activities was $1,713 million as of Mar 31, 2023, compared with $580 million in the year-ago period.
Total capital expenditure was $587 million compared with $491 million in the prior-year quarter.
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects adjusted earnings per share 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 #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.
NextEra’s operating revenues were $6,716 million, which beat the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.
Entergy’s revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.
American Water Works’ (AWK - Free Report) first-quarter 2023 earnings of $0.91 per share missed the Zacks Consensus Estimate of $0.92 per share. The company reported earnings of $0.87 per share in the prior-year quarter.
AWK reported revenues of $938 million, which surpassed the Zacks Consensus Estimate by 6.82%. It recorded revenues of $842 million in the year-ago period.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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