Centerpoint Energy Inc

CNP

Equity

ISIN US15189T1079 / Valor 1338308

New York Stock Exchange, Inc (2024-12-23)

USD 32.10-1.35%

Centerpoint Energy Inc
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About company

CenterPoint Energy Inc. is a prominent utility company that operates across a broad region from the Gulf Coast to the Great Lakes. The company's core business activities encompass electric transmission and distribution, alongside natural gas distribution, and sales and services. This diversified energy company plays a crucial role in the infrastructure of the regions it serves, ensuring the delivery of electricity and natural gas to a wide range of customers. By focusing on these essential services, CenterPoint Energy positions itself as a key player in the energy sector, facilitating both residential and commercial energy needs with efficiency and reliability.

Summarized from source with an LLMView SourceSector: Energy

Q3 2024 Earnings

CenterPoint Energy Inc. reported its financial results for the third quarter of 2024, with income available to common shareholders amounting to $193 million. This translates to earnings of $0.30 per diluted share on a GAAP basis, compared to $0.40 per diluted share in the same period of 2023. On a non-GAAP basis, the earnings per diluted share were $0.31, reflecting a decrease of $0.09 from the previous year.

Revenue Drivers

The third quarter results for CenterPoint Energy Inc. were influenced by several factors. Growth and regulatory recovery contributed positively, adding $0.09 per share. However, these gains were offset by increased operating and maintenance expenses, which reduced earnings by $0.11 per share. Additionally, unfavorable weather conditions and outages during Hurricane Beryl negatively impacted earnings by $0.04 per share.

2024 Guidance

CenterPoint Energy Inc. reiterated its non-GAAP EPS guidance range for the full year 2024, projecting earnings between $1.61 and $1.63 per diluted share. This guidance represents an 8% growth over the full-year 2023 non-GAAP EPS at the midpoint. The company remains focused on achieving its growth targets through strategic investments and operational improvements.

2025 Outlook

Looking ahead, CenterPoint Energy Inc. initiated its non-GAAP EPS guidance for 2025, estimating earnings between $1.74 and $1.76 per diluted share. This forecast suggests an 8% growth from the 2024 midpoint, aligning with the company's long-term growth target of 6%-8% annually through 2030. The guidance reflects expectations of continued customer growth and regulatory recovery.

Resiliency Initiatives

CenterPoint Energy Inc. is actively investing in the Greater Houston Resiliency Initiative, which has impacted its financial results. The company is focusing on enhancing the resiliency and reliability of its electric grid through increased investments in automation and self-healing technologies. These efforts are part of a broader strategy to build the most resilient coastal grid in the nation, as stated by CEO Jason Wells.

Summarized from source with an LLMView Source

Key figures

13.1%1Y

16.6%3Y

20.1%5Y

Performance

20.0%1Y

21.0%3Y

32.8%5Y

Volatility