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) Q2 Earnings Top Estimates, EPS View Up
Read MoreHide Full Article
CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2022 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 28 cents per share by 10.7%.
In the second quarter, CenterPoint Energy registered GAAP earnings of 28 cents per share compared with the 37 cents recorded in the prior-year quarter.
Revenues
In the second quarter of 2022, CNP generated revenues worth $1,944 million, up 11.6% from the year-ago figure. The company’s revenues beat the Zacks Consensus Estimate of $1,727.3 million by 12.5%.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
Total expenses during the reported quarter escalated by 10.2% to $1,593 million.
The company’s operating income surged 18.6% year over year to $351 million in the quarter.
Interest expenses and other finance charges decreased 15.9% to $106 million from $126 million in the year-ago quarter.
Financial Condition
As of Jun 30, 2022, CenterPoint Energy had cash and cash equivalents of $555 million, up from $230 million as of Dec 31, 2021.
The total long-term debt was $13,237 million as of Jun 30, 2022 compared with $15,558 million as of Dec 31, 2021.
CenterPoint Energy’s net cash flow from operating activities was $978 million during the six months ended Jun 30, 2022 against the cash outflow of $1,076 million in the year-ago period.
Further, CNP’s total capital expenditure was $1,880 million during the six months ended Jun 30, 2022, up from $1,383 million in the year-ago period.
2022 Guidance
CenterPoint Energy updated its 2022 earnings guidance. It now expects to generate adjusted earnings per share (EPS) in the range of $1.37-$1.39 (up from $1.36-$1.38). The Zacks Consensus Estimate for 2022 earnings is pegged at $1.38 per share, which matches the midpoint of the company’s guided range.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%. The bottom line was also up 14.1% from the prior-year quarter.
For the second quarter, NextEra’s operating revenues were $5,183 million, which lagged the Zacks Consensus Estimate of $5,681 million by 8.8%. However, NEE’s top line improved 31.9% year over year.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating EPS of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%. The bottom line also improved 1.7% from $1.18 per share in the year-ago quarter.
American Electric’s second-quarter revenues of $4,593.8 million beat the Zacks Consensus Estimate of $4,191.2 million by 9.6%. AEP expects 2022 operating earnings in the range of $4.87-$5.07 per share.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2022 adjusted EPS of 53 cents, which beat the Zacks Consensus Estimate of 44 cents by 20.5%. However, the reported figure declined 3.6% on a year-over-year basis.
CMS Energy had cash and cash equivalents of $77 million as of Jun 30, 2022, down from $452 million at the end of 2021. CMS expects its 2022 adjusted earnings guidance in the range of $2.85-$2.89 per share.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
CenterPoint Energy (CNP) Q2 Earnings Top Estimates, EPS View Up
CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2022 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 28 cents per share by 10.7%.
In the second quarter, CenterPoint Energy registered GAAP earnings of 28 cents per share compared with the 37 cents recorded in the prior-year quarter.
Revenues
In the second quarter of 2022, CNP generated revenues worth $1,944 million, up 11.6% from the year-ago figure. The company’s revenues beat the Zacks Consensus Estimate of $1,727.3 million by 12.5%.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy, Inc. price-consensus-eps-surprise-chart | CenterPoint Energy, Inc. Quote
Operational Results
Total expenses during the reported quarter escalated by 10.2% to $1,593 million.
The company’s operating income surged 18.6% year over year to $351 million in the quarter.
Interest expenses and other finance charges decreased 15.9% to $106 million from $126 million in the year-ago quarter.
Financial Condition
As of Jun 30, 2022, CenterPoint Energy had cash and cash equivalents of $555 million, up from $230 million as of Dec 31, 2021.
The total long-term debt was $13,237 million as of Jun 30, 2022 compared with $15,558 million as of Dec 31, 2021.
CenterPoint Energy’s net cash flow from operating activities was $978 million during the six months ended Jun 30, 2022 against the cash outflow of $1,076 million in the year-ago period.
Further, CNP’s total capital expenditure was $1,880 million during the six months ended Jun 30, 2022, up from $1,383 million in the year-ago period.
2022 Guidance
CenterPoint Energy updated its 2022 earnings guidance. It now expects to generate adjusted earnings per share (EPS) in the range of $1.37-$1.39 (up from $1.36-$1.38). The Zacks Consensus Estimate for 2022 earnings is pegged at $1.38 per share, which matches the midpoint of the company’s guided range.
Zacks Rank
CenterPoint Energy currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%. The bottom line was also up 14.1% from the prior-year quarter.
For the second quarter, NextEra’s operating revenues were $5,183 million, which lagged the Zacks Consensus Estimate of $5,681 million by 8.8%. However, NEE’s top line improved 31.9% year over year.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating EPS of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%. The bottom line also improved 1.7% from $1.18 per share in the year-ago quarter.
American Electric’s second-quarter revenues of $4,593.8 million beat the Zacks Consensus Estimate of $4,191.2 million by 9.6%. AEP expects 2022 operating earnings in the range of $4.87-$5.07 per share.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2022 adjusted EPS of 53 cents, which beat the Zacks Consensus Estimate of 44 cents by 20.5%. However, the reported figure declined 3.6% on a year-over-year basis.
CMS Energy had cash and cash equivalents of $77 million as of Jun 30, 2022, down from $452 million at the end of 2021. CMS expects its 2022 adjusted earnings guidance in the range of $2.85-$2.89 per share.