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.
Revenue
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.
Operational results
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.
Financial condition
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.
Orientation 2022
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.
Zacks Rank
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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