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) Q1 Earnings Meet Estimates, Sales Rise
Read MoreHide Full Article
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2022 adjusted earnings of 47 cents per share, which came in line with the Zacks Consensus Estimate. The bottom line declined by 20.3% from the year-ago quarter’s figure.
In the first quarter, CenterPoint Energy registered GAAP earnings of 82 cents per share compared with the 56 cents recorded in the prior-year quarter.
Revenues
In the first quarter of 2022, CNP generated revenues worth $2,763 million, up 8.5% from the year-ago figure. The company’s revenues beat the Zacks Consensus Estimate of $2.559.4 million by 8%.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
Total expenses during the reported quarter escalated by 9.2% to $2,286 million.
The company’s operating income surged 5.3% year over year to $477 million in the quarter.
Interest expenses and other finance charges increased 9.3% to $153 million from $140 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2022, CenterPoint Energy had cash and cash equivalents of $125 million, down from $230 million as of Dec 31, 2021.
The total long-term debt was $12,106 million as of Mar 31, 2022 compared with $15,558 million as of Dec 31, 2021.
CenterPoint Energy’s net cash flow from the operating activities was $580 million during the first quarter against the cash outflow of $1,681 million in the year-ago period.
Further, CNP’s total capital expenditure was $846 million at the end of the first quarter, up from $594 million in the year-ago period.
2022 Guidance
CenterPoint Energy reaffirmed its 2022 earnings guidance. It continues to expect to generate adjusted earnings per share (EPS) in the range of $1.36-$1.38. The Zacks Consensus Estimate for 2022 earnings is pegged at $1.38 per share, which matches the higher end of the company’s guided range.
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2022 operating EPS of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined by 13% from the year-ago earnings of 69 cents per share.
FirstEnergygenerated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. FE’s top line improved by 8.7% from $2,752 million in the year-ago quarter.
NextEra Energy (NEE - Free Report) reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.
NextEra Energy’soperating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. NEE’s top line also decreased by 22.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined by 10.2% from $1.47 per share in the year-ago quarter.
Entergy’s first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. As of Mar 31, 2022, ETR had cash and cash equivalents of $701.6 million compared with $442.6 million as of Dec 31, 2021.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CenterPoint Energy (CNP) Q1 Earnings Meet Estimates, Sales Rise
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2022 adjusted earnings of 47 cents per share, which came in line with the Zacks Consensus Estimate. The bottom line declined by 20.3% from the year-ago quarter’s figure.
In the first quarter, CenterPoint Energy registered GAAP earnings of 82 cents per share compared with the 56 cents recorded in the prior-year quarter.
Revenues
In the first quarter of 2022, CNP generated revenues worth $2,763 million, up 8.5% from the year-ago figure. The company’s revenues beat the Zacks Consensus Estimate of $2.559.4 million by 8%.
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 9.2% to $2,286 million.
The company’s operating income surged 5.3% year over year to $477 million in the quarter.
Interest expenses and other finance charges increased 9.3% to $153 million from $140 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2022, CenterPoint Energy had cash and cash equivalents of $125 million, down from $230 million as of Dec 31, 2021.
The total long-term debt was $12,106 million as of Mar 31, 2022 compared with $15,558 million as of Dec 31, 2021.
CenterPoint Energy’s net cash flow from the operating activities was $580 million during the first quarter against the cash outflow of $1,681 million in the year-ago period.
Further, CNP’s total capital expenditure was $846 million at the end of the first quarter, up from $594 million in the year-ago period.
2022 Guidance
CenterPoint Energy reaffirmed its 2022 earnings guidance. It continues to expect to generate adjusted earnings per share (EPS) in the range of $1.36-$1.38. The Zacks Consensus Estimate for 2022 earnings is pegged at $1.38 per share, which matches the higher end of the company’s 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
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2022 operating EPS of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined by 13% from the year-ago earnings of 69 cents per share.
FirstEnergygenerated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. FE’s top line improved by 8.7% from $2,752 million in the year-ago quarter.
NextEra Energy (NEE - Free Report) reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.
NextEra Energy’soperating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. NEE’s top line also decreased by 22.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined by 10.2% from $1.47 per share in the year-ago quarter.
Entergy’s first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. As of Mar 31, 2022, ETR had cash and cash equivalents of $701.6 million compared with $442.6 million as of Dec 31, 2021.