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 Q3 Earnings, Ups EPS View
Read MoreHide Full Article
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2021 adjusted earnings of 33 cents per share, which surpassed the Zacks Consensus Estimate of 29 cents by 13.8%. The bottom line however declined 2.9% from the year-ago quarter’s figure.
The company registered GAAP earnings of 32 cents per share compared with 13 cents recorded in the prior-year quarter.
The year-over-year upside can be attributed to organic growth throughout the company’s service territories combined with capital investments as well as operations and maintenance discipline.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy’s total revenues in the quarter were $1,749 million, which exceeded the Zacks Consensus Estimate of $1,602 million by 9.2%. Moreover, the reported figure came in 7.8% higher than the prior-year quarter’s figure.
Higher contributions from both the utility and non-utility segments contributed to the top-line growth.
Operational Results
Total expenses during the third quarter escalated 11.4% to $1,471 million.
The company’s operating income declined 7.9% year over year to $278 million in the quarter.
Interest expense and other finance charges declined to $114 million from $121 million in the year-ago quarter.
Financial Condition
As of Sep 30, 2021, CenterPoint Energy had cash and cash equivalents of $133 million, down from $147 million as of Dec 31, 2020.
Total long-term debt was $15,394 million as of Sep 30, 2021, compared with $11,521 million as of Dec 31, 2020.
At the end of third-quarter 2021, the company’s net cash outflow from operating activities was $551 million against a cash inflow of $1,439 million at third-quarter 2020-end.
Further, CenterPoint Energy’s total capital expenditure was $2,148 million at the end of the third quarter, up from $1,889 million in the year-ago period.
2021 Guidance
CenterPoint Energy raised its 2021 earnings guidance. The company currently expects to generate earnings per share in the range of $1.26-$1.28 compared with the prior guidance range of $1.25-$1.27.
The Zacks Consensus Estimate for current-year earnings is pegged at $1.51 per share, which lies much above the newly guided range.
American Electric Power (AEP - Free Report) reported third-quarter 2021 adjusted earnings per share of $1.43, which missed the Zacks Consensus Estimate of $1.44 by 0.7%.
NextEra Energy (NEE - Free Report) reported third-quarter 2021 adjusted earnings of 75 cents per share, which exceeded the Zacks Consensus Estimate of 72 cents by 4.2%.
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported third-quarter 2021 adjusted operating earnings of 98 cents per share, which surpassed the Zacks Consensus Estimate of 92 cents per share by 6.5%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CenterPoint Energy (CNP) Beats on Q3 Earnings, Ups EPS View
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2021 adjusted earnings of 33 cents per share, which surpassed the Zacks Consensus Estimate of 29 cents by 13.8%. The bottom line however declined 2.9% from the year-ago quarter’s figure.
The company registered GAAP earnings of 32 cents per share compared with 13 cents recorded in the prior-year quarter.
The year-over-year upside can be attributed to organic growth throughout the company’s service territories combined with capital investments as well as operations and maintenance discipline.
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 $1,749 million, which exceeded the Zacks Consensus Estimate of $1,602 million by 9.2%. Moreover, the reported figure came in 7.8% higher than the prior-year quarter’s figure.
Higher contributions from both the utility and non-utility segments contributed to the top-line growth.
Operational Results
Total expenses during the third quarter escalated 11.4% to $1,471 million.
The company’s operating income declined 7.9% year over year to $278 million in the quarter.
Interest expense and other finance charges declined to $114 million from $121 million in the year-ago quarter.
Financial Condition
As of Sep 30, 2021, CenterPoint Energy had cash and cash equivalents of $133 million, down from $147 million as of Dec 31, 2020.
Total long-term debt was $15,394 million as of Sep 30, 2021, compared with $11,521 million as of Dec 31, 2020.
At the end of third-quarter 2021, the company’s net cash outflow from operating activities was $551 million against a cash inflow of $1,439 million at third-quarter 2020-end.
Further, CenterPoint Energy’s total capital expenditure was $2,148 million at the end of the third quarter, up from $1,889 million in the year-ago period.
2021 Guidance
CenterPoint Energy raised its 2021 earnings guidance. The company currently expects to generate earnings per share in the range of $1.26-$1.28 compared with the prior guidance range of $1.25-$1.27.
The Zacks Consensus Estimate for current-year earnings is pegged at $1.51 per share, which lies much above the 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 third-quarter 2021 adjusted earnings per share of $1.43, which missed the Zacks Consensus Estimate of $1.44 by 0.7%.
NextEra Energy (NEE - Free Report) reported third-quarter 2021 adjusted earnings of 75 cents per share, which exceeded the Zacks Consensus Estimate of 72 cents by 4.2%.
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported third-quarter 2021 adjusted operating earnings of 98 cents per share, which surpassed the Zacks Consensus Estimate of 92 cents per share by 6.5%.