CenterPoint Energy (CNP) Third Quarter Earnings Beat, Year-Over-Year Revenue Increase
CentrePoint Energy, Inc. CNP reported adjusted earnings of 32 cents per share in the third quarter of 2022, which beat Zacks’ consensus estimate of 31 cents per share by 3.2%.
In the third quarter, CenterPoint Energy reported GAAP earnings of 30 cents per share, compared to 33 cents recorded in the year-ago quarter.
In the third quarter of 2022, CNP generated revenues of $1,903 million, up 8.8% from the previous year. The company’s revenue exceeded Zacks’ consensus estimate of $1,742 million by 9.2%.
CenterPoint Energy, Inc. Price, Consensus, and EPS Surprise
CenterPoint Energy, Inc. price-consensus-eps-surprise-chart | Quote from CenterPoint Energy, Inc.
Total spending in the reported quarter increased 3.3% to $1,519 million.
The company’s operating profit jumped 38.1% year-over-year to $384 million in the quarter.
Interest and other financial charges increased 1.8% to $116 million from $114 million in the same quarter last year.
As of September 30, 2022, CenterPoint Energy had cash and cash equivalents of $114 million, compared to $230 million as of December 31, 2021.
Total long-term debt was $13,435 million as of September 30, 2022, compared to $15,558 million as of December 31, 2021.
CenterPoint Energy’s net cash flow from operating activities was $1,325 million for the nine months ended September 30, 2022, compared to a cash outflow of $517 million during the period. of the previous year.
Additionally, CNP’s total capital expenditures were $3,079 million in the nine months ended September 30, 2022, compared to $2,148 million a year ago.
CenterPoint Energy reaffirmed its earnings guidance for 2022. It still expects to generate adjusted earnings per share (EPS) in the range of $1.37 to $1.39. Zacks’ consensus estimate for 2022 earnings is pegged at $1.39 per share, which is the high end of the company’s guided range.
CenterPoint Energy currently carries a Zacks rank #3 (Hold). You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent versions of the utility
American Electric Power Company, Inc. AEP reported third-quarter 2022 operating EPS of $1.62, which beat Zacks’ consensus estimate of $1.57 by 3.2%. Net income also improved 13.3% from $1.43 per share in the year-ago quarter.
American Electric’s third-quarter revenue of $5,486.9 million beat Zacks’ consensus estimate of $4,985.2 million by 10.1%. The reported figure also improved 21.3% from $4,522.6 million in the year-ago quarter.
First energy company FE achieved operating EPS of 79 cents in the third quarter of 2022, beating Zacks’ consensus estimate of 77 cents by 2.6%. Over the last twelve months, FirstEnergy’s electricity sales improved by 1.3% compared to the prior year period.
FirstEnergy generated operating revenue of $3,533 million in the third quarter, which beat Zacks’ consensus estimate of $3,190 million by 10.8%.
DTE Energy Company DTE reported third-quarter 2022 operating EPS of $1.60, which beat Zacks’ consensus estimate of $1.58 by 1.3%. However, net income was down 7% from $1.72 per share in the prior year quarter.
DTE’s net operating income in the reported quarter was $311 million, compared to $334 million in the year-ago quarter.
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