CenterPoint Energy Q3: Misses On Earnings, But Keeps 2024-2025 Growth Target Strong
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
0mins
Source: Benzinga
Financial Performance: CenterPoint Energy reported third-quarter sales of $1.856 billion and adjusted EPS of $0.31, both missing analysts' expectations. The company faced increased operating expenses and adverse weather impacts, which affected earnings compared to the previous year.
Future Outlook: CenterPoint reaffirmed its 2024 adjusted EPS guidance of $1.61 – $1.63 and introduced a 2025 guidance of $1.74 – $1.76, aiming for annual EPS growth of 6% – 8% through 2030 while focusing on enhancing resiliency in their transmission and distribution systems.
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Analyst Views on CNP
Wall Street analysts forecast CNP stock price to rise
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 41.660
Low
36.00
Averages
41.80
High
45.00
Current: 41.660
Low
36.00
Averages
41.80
High
45.00
About CNP
CenterPoint Energy, Inc. is an energy delivery company. The Company, through its subsidiaries, owns and operates electric transmission, distribution and generation facilities and natural gas distribution systems. Its segments include Electric and Natural Gas. The Electric segment includes electric transmission and distribution services that are subject to rate regulation in Houston Electric's and Indiana Electric's service territories. The Natural Gas segment includes intrastate natural gas sales to, and natural gas transportation and distribution for residential, commercial, industrial and institutional customers in Indiana, Minnesota, Ohio, and Texas; permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies; and home appliance maintenance and repair services to customers in Minnesota and home repair protection plans to natural gas customers in Indiana, Ohio and Texas through a third party.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Enhanced Customer Engagement: The new tool provides location-specific details accessible via mobile, tablet, and desktop, increasing interaction between customers and the company, helping customers better understand the impact of grid upgrades on their communities.
- Future Development Plans: The Community Progress Tracker will continue to evolve, with future features allowing customers to monitor ongoing projects and upcoming resiliency initiatives, further boosting customer confidence in the company's long-term power service reliability.
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- Supply Chain Optimization: By sourcing high-performance infrastructure materials locally, RS and CenterPoint aim to shorten the supply chain, accelerating the deployment of storm-hardened structures across CenterPoint's 12-county service territory, thereby enhancing grid reliability and resiliency.
- Support for Economic Growth: This agreement not only ensures the safety of CenterPoint's electric infrastructure against extreme weather but also promotes local economic growth through job creation, showcasing the shared commitment of both companies to community safety and stability.
See More
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- Equipment Manufacturers at Risk: The freezing of natural gas equipment and pipelines could halt operations for energy transfer companies such as Energy Transfer and Kinder Morgan, potentially impacting their production and revenue.
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