CenterPoint Energy

CenterPoint Energy (CNP) Q1 Earnings Miss, Revenues Up Y/Y

CenterPoint Energy, Inc. CNP reported first-quarter 2019 adjusted earnings of 46 cents per share, lagging the Zacks Consensus Estimate of 50 cents by 8%. The bottom line also declined 16.4% from the year-ago quarter’s 55 cents.

The company’s GAAP earnings came in at 28 cents per share compared with 38 cents registered in the prior-year quarter.

Revenues

CenterPoint Energy’s total revenues in the quarter were $3.53 billion, which lagged the Zacks Consensus Estimate of $3.85 billion by 8.3%. However, the reported figure was 11.9% higher than $3.15 billion a year ago.

Increased contribution from both utility and non-utility segments led to the year-over-year top-line growth.

Operational Results

Total expenses during the first quarter increased 13.2% to $3,286 million.

The company’s operating income declined 2.4% to $245 million from $251 million in the year-ago quarter.

Interest and other finance charges increased to $121 million from $78 million a year ago.