CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2018 adjusted earnings of 30 cents per share, lagging the Zacks Consensus Estimate of 32 cents by 6.3%. Quarterly earnings rose 3.4% from the year-ago figure of 29 cents.
Barring one-time adjustments, the company incurred GAAP loss of 17 cents per share in the reported quarter against GAAP earnings of 31 cents in the year-ago quarter.
Revenues
CenterPoint Energy’s total revenues in the reported quarter were $2,186 million, which surpassed the Zacks Consensus Estimate of $2,159 million by 1.3%. Revenues were also 2% higher than $2,143 million reported a year ago.
The rise in the top line was driven by higher contribution from the Electric Transmission & Distribution segment.
Operational Results
Total expenses during the quarter increased 5% to $1,999 million.
The company’s operating income declined 22.1% to $187 million from $240 million in the year-ago quarter.
Interest and other finance charges increased to $91 million in the reported quarter from $77 million a year ago.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $181 million during the second quarter compared with $171 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $7 million compared with $42 million in the year-ago quarter.
The Energy Services segment reported operating income of $15 million compared with $16 million in the year-ago quarter.
The company’s midstream investments segment reported $58 million of equity income for the second quarter of 2018 compared with $59 million a year ago.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
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CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2018 adjusted earnings of 30 cents per share, lagging the Zacks Consensus Estimate of 32 cents by 6.3%. Quarterly earnings rose 3.4% from the year-ago figure of 29 cents.
Barring one-time adjustments, the company incurred GAAP loss of 17 cents per share in the reported quarter against GAAP earnings of 31 cents in the year-ago quarter.
Revenues
CenterPoint Energy’s total revenues in the reported quarter were $2,186 million, which surpassed the Zacks Consensus Estimate of $2,159 million by 1.3%. Revenues were also 2% higher than $2,143 million reported a year ago.
The rise in the top line was driven by higher contribution from the Electric Transmission & Distribution segment.
Operational Results
Total expenses during the quarter increased 5% to $1,999 million.
The company’s operating income declined 22.1% to $187 million from $240 million in the year-ago quarter.
Interest and other finance charges increased to $91 million in the reported quarter from $77 million a year ago.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $181 million during the second quarter compared with $171 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $7 million compared with $42 million in the year-ago quarter.
The Energy Services segment reported operating income of $15 million compared with $16 million in the year-ago quarter.
The company’s midstream investments segment reported $58 million of equity income for the second quarter of 2018 compared with $59 million a year ago.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
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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