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.