trending Market Intelligence /marketintelligence/en/news-insights/trending/cutp6RwSBJG6Mfc-VSSJ1w2 content esgSubNav
In This List

CenterPoint Energy posts YOY increase in Q1 net income


Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy


Japan M&A By the Numbers: Q4 2023


See the Big Picture: Energy Transition in 2024

CenterPoint Energy posts YOY increase in Q1 net income

CenterPointEnergy Inc. on May 10 reported $154 million, or 36 cents per share,in first-quarter 2016 net income, up from $131 million, or 30 cents per share,in the first quarter of 2015.

The company's electric transmission & distributionsegment reported first-quarter 2016 operating income of $83 million, consistingof $59 million from the regulated electric transmission & distributionutility operations and $24 million related to securitization bonds. Operatingincome for the first quarter of 2015 was $96 million.

The natural gas distribution segment reported first-quarter2016 operating income of $160 million compared with $146 million for the samequarter of 2015. Operating income benefited from rate increases and customergrowth, the company said.

CenterPoint Energy's energy services segment reportedfirst-quarter 2016 operating income of $6 million which included amark-to-market accounting loss of $9 million, compared with $13 million for thesame period of 2015, which included a mark-to-market accounting loss of $4million. Excluding mark-to-market losses, the remaining $2 million decrease wasmargin related primarily due to reduced weather-related optimizationopportunities.

The midstream investments segment reported $60 million ofequity income during the 2016 first quarter. This would compare to an income of$52 million for the same period of 2015.

On a consolidated guidance basis, CenterPoint Energy booked$138 million, or 32 cents per share. The results included $101 million, or 23cents per share, from utility operations earnings on an adjusted guidance basisand $37 million, or 9 cents per share, from midstream investments.

Revenues for the quarter totaled $1.98 billion, compared to$2.43 billion, in the comparable quarter of 2015, while operating income was$250 million, compared to $256 million, in the 2015 quarter.

On a consolidated basis, CenterPoint Energy its earnings estimatefor 2016 in the range of $1.12 per share to $1.20 per share.