CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2017 adjusted earnings of 29 cents per share, beating the Zacks Consensus Estimate of 21 cents by 38.1%. Quarterly earnings improved 70.6% from the year-ago figure of 17 cents.
While GAAP earnings in the reported quarter were 31 cents compared with the company’s GAAP loss of a penny in the year-ago quarter.
CenterPoint Energy’s total revenue in the reported quarter was $2,143 million, which surpassed the Zacks Consensus Estimate of $1,790.4 million by 19.7%. Revenues were also 36.1% higher than $1,574 million reported a year ago.
The rise in the top line was driven by higher contribution from Natural Gas Distribution and Energy Services segments, offset marginally by lower contribution from Electric Transmission & Distribution segment.
Total expenses during the quarter increased 37.9% to $1,920 million.
The company’s operating income improved 22.5% to $223 million from $182 million in the year-ago quarter.
Interest and other finance charges decreased to $77 million in the reported quarter from $86 million a year ago.
As of Jun 30, 2017, CenterPoint Energy had cash and cash equivalents of $248 million, down from $341 million as of Dec 31, 2016.
Total long-term debt was $7,587 million as of Jun 30, 2017 compared with $7,532 million as of Dec 31, 2016.
At the end of the second quarter, the company’s net cash from operating activities was $680 million, down from $1,061 million in the year-ago period.
Also, CenterPoint Energy’s total capital expenditure was $370 million in the second quarter, up from $358 million in the year-ago quarter.
CenterPoint Energy reaffirmed its 2017 earnings guidance in the range of $1.25–$1.33 per diluted share. This earlier included estimated utility operations earnings of 93–97 cents per diluted share and midstream investment earnings of 31–37 cents per diluted share.
CenterPoint Energy currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Entergy Corporation (ETR - Free Report) reported second-quarter 2017 operational earnings of $3.11 per share, beating the Zacks Consensus Estimate of $1.20 by 159.2%. However, the reported number was in line with the year-ago figure.
DTE Energy Company (DTE - Free Report) reported second-quarter 2017 operating earnings per share (EPS) of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
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