CenterPoint Energy, Inc. $CNP Tops Q1 Earnings
Reported first-quarter 2018 adjusted earnings of 55 cents per share beating consensus 44 cents by 25%. Earnings improved 48.6% from the year-ago quarter’s 37 cents. Excluding one-time items, $CNP reported earnings per share of 38 cents, compared with 44 cents in the year-ago quarter.
Total revenues in the reported quarter were $3,155 million beating consensus $2,752 million by 14.6%. Revenues were also 15.4% higher than $2,735 million reported a year ago.
The top-line upside was driven by higher contribution from Natural Gas Distribution, Energy Services as well as Electric Transmission & Distribution segments.
The Electric Transmission & Distribution segment reported operating income of $115 million in the first quarter, compared with $86 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $156 million, compared with $168 million in the year-earlier quarter.
The Energy Services segment reported adjusted operating income of $54 million in the first quarter, compared with $20 million in the year-ago quarter.
CenterPoint Energy currently expects to generate earnings in the high end of its previously guided range of $1.50-$1.60.