CenterPoint Energy Earnings Cheat Sheet: Tops Analysts’ Expectations

S&P 500 (NYSE:SPY) component CenterPoint Energy, Inc. (NYSE:CNP) reported net income above Wall Street’s expectations for the second quarter. A public utility holding company, CenterPoint Energy, Inc operates electric transmission and distribution facilities, interstate pipelines and natural gas gathering, processing and treating facilities.

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CenterPoint Energy Earnings Cheat Sheet for the Second Quarter

Results: Net income for CenterPoint Energy, Inc. rose to $119 million (28 cents per share) vs. $81 million (20 cents per share) in the same quarter a year earlier. This marks a rise of 46.9% from the year earlier quarter.

Revenue: Rose 4.6% to $1.84 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CNP beat the mean analyst estimate of 23 cents per share. It fell short of the average revenue estimate of $1.98 billion.

Quoting Management: “Our company performed well this quarter,” said David M. McClanahan, president and chief executive officer of CenterPoint Energy. “Our regulated electric and natural gas utilities reported solid results and our field services unit continues to realize growth from the investments we have made primarily in the Haynesville shale. We continue to benefit from our balanced portfolio of electric and natural gas assets, and I remain optimistic about future investment opportunities.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 29.8% and in the fourth quarter of the last fiscal year, the figure rose 18.1%.

A year-over-year revenue increase last quarter snaps a streak of two consecutive quarters of revenue declines. Revenue fell 14.4% in the first quarter and fell 8.7% in the fourth quarter of the last fiscal year.

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 34 cents per share.

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).

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(Source: Xignite Financials)