CenterPoint Energy Misses Quarterly Profit Estimates on Higher Costs
(Reuters) — CenterPoint Energy Inc. narrowly missed the fourth-quarter profit estimates on Friday, as higher costs hit the U.S. electric and gas utility firm.
The Texas-based company's adjusted net income was 28 cents per share for the three months ended Dec. 31, missing the average analysts' expectations of 29 cents per share, according to Refinitiv IBES data.
Earlier this week, peer FirstEnergy Corp. missed its profit estimates, while Exelon Corp. met expectations.
CenterPoint's net income for the reported quarter fell 81% to $122 million, impacted by charges related to its complete exit from the midstream businesses.
The company said "other unfavorable variances" of $0.08 per share, primarily driven by higher interest expense, partially offset the benefits from cold weather conditions during the quarter.
The company reiterated its 2023 adjusted income forecast of $1.48 per share to $1.50 per share, compared with the analysts' estimates of $1.49.
Related News
Related News

- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
Comments