CenterPoint Energy (CNP) Q2 Earnings Top Estimates, EPS View Up

CenterPoint Energy, Inc. CNP reported second-quarter 2022 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 28 cents per share by 10.7%.

In the second quarter, CenterPoint Energy registered GAAP earnings of 28 cents per share compared with the 37 cents recorded in the prior-year quarter.

Revenues

In the second quarter of 2022, CNP generated revenues worth $1,944 million, up 11.6% from the year-ago figure. The company’s revenues beat the Zacks Consensus Estimate of $1,727.3 million by 12.5%.

CenterPoint Energy, Inc. Price, Consensus and EPS Surprise

CenterPoint Energy, Inc. price-consensus-eps-surprise-chart | CenterPoint Energy, Inc. Quote

Operational Results

Total expenses during the reported quarter escalated by 10.2% to $1,593 million.

The company’s operating income surged 18.6% year over year to $351 million in the quarter.

Interest expenses and other finance charges decreased 15.9% to $106 million from $126 million in the year-ago quarter.

Financial Condition

As of Jun 30, 2022, CenterPoint Energy had cash and cash equivalents of $555 million, up from $230 million as of Dec 31, 2021.

The total long-term debt was $13,237 million as of Jun 30, 2022 compared with $15,558 million as of Dec 31, 2021.

CenterPoint Energy’s net cash flow from operating activities was $978 million during the six months ended Jun 30, 2022 against the cash outflow of $1,076 million in the year-ago period.

Further, CNP’s total capital expenditure was $1,880 million during the six months ended Jun 30, 2022, up from $1,383 million in the year-ago period.

2022 Guidance

CenterPoint Energy updated its 2022 earnings guidance. It now expects to generate adjusted earnings per share (EPS) in the range of $1.37-$1.39 (up from $1.36-$1.38). The Zacks Consensus Estimate for 2022 earnings is pegged at $1.38 per share, which matches the midpoint of the company’s guided range.

Zacks Rank

CenterPoint Energy currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Utility Releases

NextEra Energy, Inc. NEE reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%. The bottom line was also up 14.1% from the prior-year quarter.

For the second quarter, NextEra’s operating revenues were $5,183 million, which lagged the Zacks Consensus Estimate of $5,681 million by 8.8%. However, NEE’s top line improved 31.9% year over year.

American Electric Power Company, Inc. AEP reported second-quarter 2022 operating EPS of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%. The bottom line also improved 1.7% from $1.18 per share in the year-ago quarter.

American Electric’s second-quarter revenues of $4,593.8 million beat the Zacks Consensus Estimate of $4,191.2 million by 9.6%. AEP expects 2022 operating earnings in the range of $4.87-$5.07 per share.

CMS Energy Corporation CMS reported second-quarter 2022 adjusted EPS of 53 cents, which beat the Zacks Consensus Estimate of 44 cents by 20.5%. However, the reported figure declined 3.6% on a year-over-year basis.

CMS Energy had cash and cash equivalents of $77 million as of Jun 30, 2022, down from $452 million at the end of 2021. CMS expects its 2022 adjusted earnings guidance in the range of $2.85-$2.89 per share.

Zacks' Top Picks to Cash in on Electric Vehicles

Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investors

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.