CenterPoint Energy Earnings Cheat Sheet: Profits Rise for Third Straight Quarter

Falling revenue did not prevent S&P 500 (NYSE:SPY) component CenterPoint Energy, Inc. (NYSE:CNP) from reporting a profit boost in the first quarter. A public utility holding company, CenterPoint Energy, Inc operates electric transmission and distribution facilities, interstate pipelines and natural gas (NYSE:UNG) gathering, processing and treating facilities.

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CenterPoint Energy Earnings Cheat Sheet for the First Quarter

Results: Net income for CenterPoint Energy, Inc. rose to $148 million (35 cents/share) vs. $114 million (28 cents/share) in the same quarter a year earlier. A rise of 29.8% from the year earlier quarter.

Revenue: Fell 14.4% to $2.59 billion YoY.

Actual vs. Wall St. Expectations: CNP beat the mean analyst estimate of 34 cents/share. Estimates ranged from 30 cents per share to 36 cents per share.

Quoting Management: “This was a good quarter for our company,” said David M. McClanahan, president and chief executive officer of CenterPoint Energy. “We received a favorable decision from the Texas Supreme Court in our true-up case. Our regulated electric and natural gas utilities and our interstate pipelines performed well, and our field services unit continues to realize growth from the investments we have made in the Haynesville shale. I remain optimistic about future investment opportunities in our businesses.”

Key Stats: The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 18.1% and in the third quarter of the last fiscal year, the figure rose 7.9%.

Competitors to Watch: Integrys Energy Group, Inc. (NYSE:TEG), SCANA Corporation (NYSE:SCG), Atmos Energy Corporation (NYSE:ATO), OGE Energy Corp. (NYSE:OGE), Dominion Resources, Inc. (NYSE:D), Calpine Corporation (NYSE:CPN), Ameren Corporation (NYSE:AEE), The Empire District Electric Co. (NYSE:EDE), NiSource Inc. (NYSE:NI), and NorthWestern Corporation (NYSE:NWE)

Stock Performance: Shares of CNP are trading at $18.49 as of May 5, 2011 at 9:23 AM ET, unchanged from the previous close.

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