CenterPoint Energy, Inc. (CNP - Free Report) reported fourth-quarter 2017 adjusted earnings of 33 cents per share, which beat the Zacks Consensus Estimate of 30 cents by 10%. Earnings improved 26.9% from the year-ago quarter’s 26 cents.
Including a one-time tax benefit, the company reported earnings per share of $2.99, compared with 23 cents in the year-ago quarter.
In 2017, CenterPoint Energy reported adjusted earnings per share of $1.37, which beat the Zacks Consensus Estimate of $1.33 by 3%. Full-year earnings improved 18.1% from the year-ago $1.16.
Revenues
Total revenues in the reported quarter were $2,638 million, which surpassed the Zacks Consensus Estimate of $2,151 million by 22.6%. Revenues were also 26.8% higher than $2,081 million reported a year ago.
The top-line beat was driven by higher contribution from Natural Gas Distribution, Energy Services as well as Electric Transmission & Distribution segments.
In 2017, the company’s total revenues were $9.61 billion, beating the Zacks Consensus Estimate of $8.74 billion by 10%. Revenues were also 27.7% higher than $7.53 billion reported a year ago.
Operational Results
Total expenses in the quarter increased 27.4% to $2,342 million.
Operating income improved 21.8% to $296 million from $243 million a year ago.
Interest and other finance charges decreased to $78 million in the reported quarter from $82 million a year ago.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $121 million in the fourth quarter, compared with $130 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $108 million, compared with $101 million in the year-earlier quarter.
The Energy Services segment reported operating income of $67 million in the fourth quarter, compared with $9 million in the year-ago quarter.
Financial Condition
As of Dec 31, 2017, CenterPoint Energy had cash and cash equivalents of $260 million, down from $341 million as of Dec 31, 2016.
Total long-term debt was $8,195 million as of Dec 31, 2017, compared with $7,532 million as of Dec 31, 2016.
At the end of 2017, the company’s net cash from operating activities was $1,421 million, compared with $1,931 million a year ago.
Total capital expenditure was $1,494 million at 2017-end, compared with $1,406 million in the year-ago quarter.
Guidance
CenterPoint Energy issued its 2018 outlook. The company expects earnings in the range of $1.50-$1.60.
Zacks Rank
CenterPoint Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
Duke Energy (DUK - Free Report) reported fourth-quarter 2017 adjusted earnings of 94 cents per share, beating the Zacks Consensus Estimate of 91 cents by 3.3%.
PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share of 63 cents in fourth-quarter 2017 missed the Zacks Consensus Estimate of 69 cents by 8.7%.
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CenterPoint Energy, Inc. (CNP - Free Report) reported fourth-quarter 2017 adjusted earnings of 33 cents per share, which beat the Zacks Consensus Estimate of 30 cents by 10%. Earnings improved 26.9% from the year-ago quarter’s 26 cents.
Including a one-time tax benefit, the company reported earnings per share of $2.99, compared with 23 cents in the year-ago quarter.
In 2017, CenterPoint Energy reported adjusted earnings per share of $1.37, which beat the Zacks Consensus Estimate of $1.33 by 3%. Full-year earnings improved 18.1% from the year-ago $1.16.
Revenues
Total revenues in the reported quarter were $2,638 million, which surpassed the Zacks Consensus Estimate of $2,151 million by 22.6%. Revenues were also 26.8% higher than $2,081 million reported a year ago.
The top-line beat was driven by higher contribution from Natural Gas Distribution, Energy Services as well as Electric Transmission & Distribution segments.
In 2017, the company’s total revenues were $9.61 billion, beating the Zacks Consensus Estimate of $8.74 billion by 10%. Revenues were also 27.7% higher than $7.53 billion reported a year ago.
Operational Results
Total expenses in the quarter increased 27.4% to $2,342 million.
Operating income improved 21.8% to $296 million from $243 million a year ago.
Interest and other finance charges decreased to $78 million in the reported quarter from $82 million a year ago.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $121 million in the fourth quarter, compared with $130 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $108 million, compared with $101 million in the year-earlier quarter.
The Energy Services segment reported operating income of $67 million in the fourth quarter, compared with $9 million in the year-ago quarter.
Financial Condition
As of Dec 31, 2017, CenterPoint Energy had cash and cash equivalents of $260 million, down from $341 million as of Dec 31, 2016.
Total long-term debt was $8,195 million as of Dec 31, 2017, compared with $7,532 million as of Dec 31, 2016.
At the end of 2017, the company’s net cash from operating activities was $1,421 million, compared with $1,931 million a year ago.
Total capital expenditure was $1,494 million at 2017-end, compared with $1,406 million in the year-ago quarter.
Guidance
CenterPoint Energy issued its 2018 outlook. The company expects earnings in the range of $1.50-$1.60.
Zacks Rank
CenterPoint Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
Duke Energy (DUK - Free Report) reported fourth-quarter 2017 adjusted earnings of 94 cents per share, beating the Zacks Consensus Estimate of 91 cents by 3.3%.
PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share of 63 cents in fourth-quarter 2017 missed the Zacks Consensus Estimate of 69 cents by 8.7%.
NextEra Energy (NEE - Free Report) reported fourth-quarter 2017 adjusted earnings of $1.25 per share, lagging the Zacks Consensus Estimate of $1.31 by 4.6%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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