HOUSTON - CenterPoint Energy (NYSE:CNP) reported third quarter earnings that fell short of analyst expectations, though the company reiterated its full-year guidance and provided an optimistic outlook for 2025. The stock edged up 1% following the release.
The Houston-based utility posted adjusted earnings per share of $0.31 for Q3, missing the analyst consensus of $0.32. Revenue came in at $1.86 billion, below estimates of $1.99 billion.
Despite the earnings miss, CenterPoint reaffirmed its 2024 adjusted EPS guidance range of $1.61-$1.63, representing 8% growth over 2023 at the midpoint. The company also initiated 2025 guidance of $1.74-$1.76 per share, implying 8% growth from the 2024 midpoint.
"I'm confident in our team's ability to continue to make meaningful advances in furthering the resiliency and reliability of our Houston electric grid," said Jason Wells, President & CEO of CenterPoint. "We've now turned our attention to increasing and accelerating investments in automation and self-healing technologies at the distribution system level."
The company noted that Q3 results were impacted by increased operating and maintenance expenses related to its Greater Houston Resiliency Initiative, as well as unfavorable weather variances compared to last year.
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