CenterPoint Energy Inc. on Feb. 22 reported fourth-quarter 2017 adjusted net income of $141 million, or 33 cents per share, beating the S&P Capital IQ consensus normalized EPS estimate of 29 cents.
The result, which excludes a one-time tax benefit of $1.11 billion, or $2.56 per share, related to the federal tax reform in 2017, compares to fourth-quarter 2016 adjusted net income of $113 million, or 26 cents per share.
GAAP net income climbed to $1.30 billion, or $2.99 per share, from $101 million, or 23 cents per share, in the year-ago period.
The company generated $2.64 billion in fourth-quarter 2017, an increase from $2.08 billion in the comparable quarter of 2016, and operating income of $296 million, compared with $243 million a year earlier.
On a full-year basis, the company posted 2017 adjusted net income of $593 million, or $1.37 per share, compared with $501 million, or $1.16 per share, a year ago.
The S&P Capital IQ consensus normalized EPS estimate for 2017 was $1.33.
Revenues for the year climbed to $9.61 billion, from $7.53 billion in 2016, while operating income grew to $1.07 billion, compared with $959 million a year earlier.
CenterPoint booked $1.79 billion, or $4.13 per share, in 2017 GAAP net income, a surge from $432 million, or $1.00 per share, in 2016.
Looking ahead, CenterPoint Energy is targeting full-year 2018 EPS on a guidance basis in the range of $1.50 to $1.60, inclusive of Enable Midstream Partners LP's net income guidance of $355 million to $435 million. CenterPoint owns a 54.1% ownership stake in common units of Enable Midstream.