Yahoo Finance CenterPoint Energy (CNP) Q4 Earnings Miss, Reaffirms 2023 View
CenterPoint Energy, Inc. CNP reported fourth-quarter 2022 adjusted earnings of 28 cents per share, which lagged the Zacks Consensus Estimate of 29 cents by 3.4%.
In the fourth quarter, CenterPoint Energy registered GAAP earnings of 19 cents per share compared with the $1.01 recorded in the prior-year quarter.
For the full-year 2022, CNP reported adjusted earnings of $1.38 per share compared with $1.64 in the previous year’s quarter. Earnings missed the Zacks Consensus Estimate of $1.39 by 0.7%.
Segment Earnings
Midstream reported a loss of $12 million in the reported quarter compared to earnings of $616 million in the prior-year period.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy, Inc. price-consensus-eps-surprise-chart | CenterPoint Energy, Inc. Quote
2023 Guidance
CenterPoint Energy reaffirmed its 2023 earnings guidance. It expects to generate adjusted earnings per share (EPS) in the range of $1.48-$1.50. The Zacks Consensus Estimate for 2023 earnings is pegged at $1.49 per share, which is in line with the midpoint of the company’s guided range.
Zacks Rank
CenterPoint Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Consolidated Edison, Inc. ED reported fourth-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 3.9%. However, the bottom line declined 19% from $1.00 in the prior-year quarter.
In the reported quarter, the company’s total revenues of $4,031 million surpassed the Zacks Consensus Estimate of $3,518 million by 14.6%. The top line also improved 18% from $3,415 million in the year-ago quarter. The upside was attributable to higher electric, gas and steam as well as non-utility revenues.
Hawaiian Electric Industries, Inc. HE reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
Ameren Corporation’s AEE fourth-quarter 2022 earnings of 63 cents per share surpassed the Zacks Consensus Estimate of 56 cents by 12.5%. The reported figure increased 31.3% year over year.
Total revenues came in at $2,046 million in the reported quarter, which improved 32.4% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,598 million by 28%.
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