CenterPoint Energy, Inc. (NYSE:CNP) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
CenterPoint Energy, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.03% to $0.34 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 14.59% to $2.39 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CenterPoint Energy, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company missed the mean analyst estimate of $0.37. It beat the average revenue estimate of $2.33 billion.
Quoting Management: “I am pleased with the overall performance of our business portfolio this quarter,” said David M. McClanahan, president and chief executive officer of CenterPoint Energy. “Our regulated gas distribution unit and competitive natural gas sales and services unit performed well offsetting a first quarter decline in our electric utility. In the midstream business, our field services unit continues to benefit from its contracting strategy and the earnings from recent acquisitions, which partially offset expected declines in our interstate pipelines. I am also pleased to announce that we closed on our midstream partnership yesterday.”
Key Stats (on next page)…