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CenterPoint Q2 earnings rise YOY, beating consensus estimates

CenterPoint Energy Inc. on Aug. 7 posted second-quarter net income, on a guidance basis and excluding pretax costs associated with its merger deal with Vectren Corp., of $177 million, or 35 cents per share, an increase from $127 million, or 30 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized earnings estimate for the quarter was 31 cents per share.

The company reported net income available to common shareholders of $165 million, or 33 cents per share, compared to a net loss of $75 million, or a loss of 17 cents per share, in the second quarter of 2018.

Revenues for the quarter were $2.80 billion, an increase from $2.19 billion a year earlier. The company reported operating income of $287 million, up from $187 million a year earlier.

CenterPoint Energy expects full-year 2019 guidance basis earnings in the range of $1.60 per share to $1.70 per share.