CenterPoint Energy, Inc. (CNP - Free Report) reported fourth-quarter 2019 adjusted earnings of 45 cents per share, which exceeded the Zacks Consensus Estimate of 37 cents by 21.6%. The bottom line also jumped 25% from the year-ago quarter’s 36 cents.
The company’s GAAP earnings came in at 25 cents per share compared with the 18 cents registered in the prior-year quarter.
For 2019, CenterPoint Energy posted adjusted earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.69 by 5.9%. Full-year earnings also improved 11.9% from the year-earlier tally of $1.60.
Revenues
CenterPoint Energy’s total revenues in the quarter were $3,230 million, which lagged the Zacks Consensus Estimate of $3,897 million by 17.1%. However, the reported figure came in 6.4% higher than the prior year’s $3,036 million.
Increased contributions from both utility segments fueled top-line growth.
For 2019, the company’s total revenues of $12,301 million missed the Zacks Consensus Estimate of $12,890 million by 4.6%. The top line, however, came in 16.2% higher than the $10,589 million registered in 2018.
Operational Results
Total expenses during the fourth quarter flared up 2.1% to $2,928 million.
The company’s operating income surged 80.8% to $302 million from the $167 million registered in the year-ago period.
Interest and other finance charges increased to $139 million from the prior year’s $102 million.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $102 million in the fourth quarter compared with the $100 million witnessed in the year-ago quarter.
The Natural Gas Distribution segment registered operating income of $167 million compared with the year-ago quarter’s $100 million.
The Energy Services segment incurred operating loss of $32 million compared with the operating loss of $27 million posted in the year-earlier period.
The Infrastructure Services segment recorded operating income of $45 million compared with the $95 million witnessed in the prior-year quarter.
The Other Operations segment incurred operating loss of $6 million, flat year on year.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
Financial Condition
As of Dec 31, 2019, CenterPoint Energy had cash and cash equivalents of $241 million, down significantly from $4,231 million as of Dec 31, 2018.
Total long-term debt was $14,244 million as of Dec 31, 2019, compared with $8,682 million as of Dec 31, 2018.
At the end of 2019, the company’s net cash from operating activities was $1.638 million, up from the previous year’s $2,136 million.
Further, CenterPoint Energy’s total capital expenditure summed $2,580 million in 2019, up from the $1,720 million witnessed last year.
2020 Guidance
CenterPoint Energy has issued its 2020 earnings guidance. The company currently expects to generate earnings of $1.10-$1.20 per diluted share, excluding certain impacts associated in relation to its merger with Vectren. Its Midstream Investments EPS projected range is 23-28 cents.
The Zacks Consensus Estimate for ongoing-year earnings is pegged at $1.58, which lies above the mid-point 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
CMS Energy (CMS - Free Report) reported fourth-quarter 2019 adjusted earnings per share (EPS) of 68 cents, considerably up 70% from the year-ago quarter reported figure of 40 cents. The bottom line, however, missed the Zacks Consensus Estimate of 69 cents.
NextEra Energy (NEE - Free Report) posted adjusted earnings of $1.44 per share for the December-end quarter, lagging the Zacks Consensus Estimate of $1.54 by 6.5%.
Dominion Energy (D - Free Report) delivered operating earnings of $1.18 per share for the final quarter of 2019, beating the Zacks Consensus Estimate of $1.16 by 1.7%.
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CenterPoint Energy, Inc. (CNP - Free Report) reported fourth-quarter 2019 adjusted earnings of 45 cents per share, which exceeded the Zacks Consensus Estimate of 37 cents by 21.6%. The bottom line also jumped 25% from the year-ago quarter’s 36 cents.
The company’s GAAP earnings came in at 25 cents per share compared with the 18 cents registered in the prior-year quarter.
For 2019, CenterPoint Energy posted adjusted earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.69 by 5.9%. Full-year earnings also improved 11.9% from the year-earlier tally of $1.60.
Revenues
CenterPoint Energy’s total revenues in the quarter were $3,230 million, which lagged the Zacks Consensus Estimate of $3,897 million by 17.1%. However, the reported figure came in 6.4% higher than the prior year’s $3,036 million.
Increased contributions from both utility segments fueled top-line growth.
For 2019, the company’s total revenues of $12,301 million missed the Zacks Consensus Estimate of $12,890 million by 4.6%. The top line, however, came in 16.2% higher than the $10,589 million registered in 2018.
Operational Results
Total expenses during the fourth quarter flared up 2.1% to $2,928 million.
The company’s operating income surged 80.8% to $302 million from the $167 million registered in the year-ago period.
Interest and other finance charges increased to $139 million from the prior year’s $102 million.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $102 million in the fourth quarter compared with the $100 million witnessed in the year-ago quarter.
The Natural Gas Distribution segment registered operating income of $167 million compared with the year-ago quarter’s $100 million.
The Energy Services segment incurred operating loss of $32 million compared with the operating loss of $27 million posted in the year-earlier period.
The Infrastructure Services segment recorded operating income of $45 million compared with the $95 million witnessed in the prior-year quarter.
The Other Operations segment incurred operating loss of $6 million, flat year on year.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
Financial Condition
As of Dec 31, 2019, CenterPoint Energy had cash and cash equivalents of $241 million, down significantly from $4,231 million as of Dec 31, 2018.
Total long-term debt was $14,244 million as of Dec 31, 2019, compared with $8,682 million as of Dec 31, 2018.
At the end of 2019, the company’s net cash from operating activities was $1.638 million, up from the previous year’s $2,136 million.
Further, CenterPoint Energy’s total capital expenditure summed $2,580 million in 2019, up from the $1,720 million witnessed last year.
2020 Guidance
CenterPoint Energy has issued its 2020 earnings guidance. The company currently expects to generate earnings of $1.10-$1.20 per diluted share, excluding certain impacts associated in relation to its merger with Vectren. Its Midstream Investments EPS projected range is 23-28 cents.
The Zacks Consensus Estimate for ongoing-year earnings is pegged at $1.58, which lies above the mid-point 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
CMS Energy (CMS - Free Report) reported fourth-quarter 2019 adjusted earnings per share (EPS) of 68 cents, considerably up 70% from the year-ago quarter reported figure of 40 cents. The bottom line, however, missed the Zacks Consensus Estimate of 69 cents.
NextEra Energy (NEE - Free Report) posted adjusted earnings of $1.44 per share for the December-end quarter, lagging the Zacks Consensus Estimate of $1.54 by 6.5%.
Dominion Energy (D - Free Report) delivered operating earnings of $1.18 per share for the final quarter of 2019, beating the Zacks Consensus Estimate of $1.16 by 1.7%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>
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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