We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CenterPoint Energy (CNP) Beats on Q2 Earnings, Ups EPS View
Read MoreHide Full Article
CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 25 cents by 44%. The bottom line also improved 71.4% from the year-ago quarter’s figure.
The company registered GAAP earnings of 37 cents per share compared with 11 cents recorded in the prior-year quarter.
The year-over-year upside can be attributed to favorable income tax benefit along with favorable rate recovery.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy’s total revenues in the quarter were $1,742 million, which exceeded the Zacks Consensus Estimate of $1,557 million by 11.9%. Moreover, the reported figure came in 10.6% higher than the prior-year quarter’s figure.
Higher contribution from the utility segment contributed to top-line growth.
Operational Results
Total expenses during the second quarter escalated 7.9% to $1,446 million.
The company’s operating income surged 26% year over year to $296 million in the quarter.
Interest expense and other finance charges declined to $119 million from $128 million in the year-ago quarter.
Financial Condition
As of Jun 30, 2021, CenterPoint Energy had cash and cash equivalents of $136 million, down from $147 million as of Dec 31, 2020.
Total long-term debt was $15,853 million as of Jun 30, 2021, compared with $11,521 million as of Dec 31, 2020.
At the end of second-quarter 2021, the company’s net cash outflow from operating activities was $1,076 million against cash inflow of $1,181 million at second-quarter 2020-end.
Further, CenterPoint Energy’s total capital expenditure was $1,383 million at the end of second quarter, up from $1,278 million in the year-ago period..
2021 Guidance
CenterPoint Energy raised its 2021 earnings guidance. The company currently expects to generate earnings in the range of $1.25-$1.27 compared with the prior guidance range of $1.24-$1.26 per share.
The Zacks Consensus Estimate for current-year earnings is pegged at $1.47 per share, which lies much above the company’s newly guided range.
American Electric Power (AEP - Free Report) reported second-quarter 2021 adjusted earnings per share of $1.18, which exceeded the Zacks Consensus Estimate of $1.14 by 3.5%.
NextEra Energy (NEE - Free Report) reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.
DTE Energy Company (DTE - Free Report) reported second-quarter 2021 operating earnings per share (EPS) of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
CenterPoint Energy (CNP) Beats on Q2 Earnings, Ups EPS View
CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 25 cents by 44%. The bottom line also improved 71.4% from the year-ago quarter’s figure.
The company registered GAAP earnings of 37 cents per share compared with 11 cents recorded in the prior-year quarter.
The year-over-year upside can be attributed to favorable income tax benefit along with favorable rate recovery.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy, Inc. price-consensus-eps-surprise-chart | CenterPoint Energy, Inc. Quote
Revenues
CenterPoint Energy’s total revenues in the quarter were $1,742 million, which exceeded the Zacks Consensus Estimate of $1,557 million by 11.9%. Moreover, the reported figure came in 10.6% higher than the prior-year quarter’s figure.
Higher contribution from the utility segment contributed to top-line growth.
Operational Results
Total expenses during the second quarter escalated 7.9% to $1,446 million.
The company’s operating income surged 26% year over year to $296 million in the quarter.
Interest expense and other finance charges declined to $119 million from $128 million in the year-ago quarter.
Financial Condition
As of Jun 30, 2021, CenterPoint Energy had cash and cash equivalents of $136 million, down from $147 million as of Dec 31, 2020.
Total long-term debt was $15,853 million as of Jun 30, 2021, compared with $11,521 million as of Dec 31, 2020.
At the end of second-quarter 2021, the company’s net cash outflow from operating activities was $1,076 million against cash inflow of $1,181 million at second-quarter 2020-end.
Further, CenterPoint Energy’s total capital expenditure was $1,383 million at the end of second quarter, up from $1,278 million in the year-ago period..
2021 Guidance
CenterPoint Energy raised its 2021 earnings guidance. The company currently expects to generate earnings in the range of $1.25-$1.27 compared with the prior guidance range of $1.24-$1.26 per share.
The Zacks Consensus Estimate for current-year earnings is pegged at $1.47 per share, which lies much above the company’s newly 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
American Electric Power (AEP - Free Report) reported second-quarter 2021 adjusted earnings per share of $1.18, which exceeded the Zacks Consensus Estimate of $1.14 by 3.5%.
NextEra Energy (NEE - Free Report) reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.
DTE Energy Company (DTE - Free Report) reported second-quarter 2021 operating earnings per share (EPS) of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%.