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 Beat, Revenues Up Y/Y
Read MoreHide Full Article
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2023 adjusted earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 4.2%. The bottom line also improved 6.4% from the year-ago quarter’s figure of 47 cents.
The company registered GAAP earnings of 49 cents per share compared with 82 cents in the prior-year quarter.
Q1 Revenues
CNP generated revenues of $2,779 million, up 0.6% from the year-ago figure. The top line missed the Zacks Consensus Estimate of $2,792 million by 0.5%.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
Total expenses during the reported quarter decreased 2.1% to $2,238 million.
Operating income increased 13.4% year over year to $541 million. Interest expenses and other finance charges totaled $148 million, down 6.4% from $153 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2023, CenterPoint Energy had cash and cash equivalents of $112 million compared with $75 million as of Dec 31, 2022.
Total long-term debt was $15,783 million as of Jun 30, 2022, compared with $14,836 million as of Dec 31, 2022.
Net cash flow from operating activities was $1,713 million as of Mar 31, 2023, compared with $580 million in the year-ago period.
Total capital expenditure was $587 million compared with $491 million in the prior-year quarter.
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects adjusted earnings per share in the range of $1.48-$1.50. The Zacks Consensus Estimate for 2023 earnings is pegged at $1.49 per share, which is in line with the midpoint of the company’s guided range.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.
NextEra’s operating revenues were $6,716 million, which beat the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.
Entergy’s revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.
American Water Works’ (AWK - Free Report) first-quarter 2023 earnings of $0.91 per share missed the Zacks Consensus Estimate of $0.92 per share. The company reported earnings of $0.87 per share in the prior-year quarter.
AWK reported revenues of $938 million, which surpassed the Zacks Consensus Estimate by 6.82%. It recorded revenues of $842 million in the year-ago period.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
CenterPoint Energy (CNP) Q1 Earnings Beat, Revenues Up Y/Y
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2023 adjusted earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 4.2%. The bottom line also improved 6.4% from the year-ago quarter’s figure of 47 cents.
The company registered GAAP earnings of 49 cents per share compared with 82 cents in the prior-year quarter.
Q1 Revenues
CNP generated revenues of $2,779 million, up 0.6% from the year-ago figure. The top line missed the Zacks Consensus Estimate of $2,792 million by 0.5%.
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 decreased 2.1% to $2,238 million.
Operating income increased 13.4% year over year to $541 million.
Interest expenses and other finance charges totaled $148 million, down 6.4% from $153 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2023, CenterPoint Energy had cash and cash equivalents of $112 million compared with $75 million as of Dec 31, 2022.
Total long-term debt was $15,783 million as of Jun 30, 2022, compared with $14,836 million as of Dec 31, 2022.
Net cash flow from operating activities was $1,713 million as of Mar 31, 2023, compared with $580 million in the year-ago period.
Total capital expenditure was $587 million compared with $491 million in the prior-year quarter.
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects adjusted earnings per share in the range of $1.48-$1.50. The Zacks Consensus Estimate for 2023 earnings is pegged at $1.49 per share, which is in line with the midpoint 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
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.
NextEra’s operating revenues were $6,716 million, which beat the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.
Entergy’s revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.
American Water Works’ (AWK - Free Report) first-quarter 2023 earnings of $0.91 per share missed the Zacks Consensus Estimate of $0.92 per share. The company reported earnings of $0.87 per share in the prior-year quarter.
AWK reported revenues of $938 million, which surpassed the Zacks Consensus Estimate by 6.82%. It recorded revenues of $842 million in the year-ago period.