CenterPoint Energy Posts Loss In Q2, Backs Full Year EPS View - Quick Facts

(RTTNews) - Electric and natural gas utility CenterPoint Energy Inc (CNP) Thursday reported a loss for the second quarter, hit by items.

The company reported a loss of $100 million or $0.23 per share for the just concluded quarter. Last year, it earned $126 million or $0.29 per share.

The latest results included a $225 million, non-cash deferred tax charge and $10 million of partnership formation expenses related to the formation of the midstream partnership.

Excluding these items, net income would have been $131 million or $0.30 per share. On average, 16 analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $1.894 billion from $1.525 billion. Analysts expected revenues of $1.60 billion. Excluding the effects of the two items recorded in the second quarter, CenterPoint Energy reaffirmed its estimate for 2013 earnings in the range of $1.17 to $1.25 per share. Wall Street expects annual earnings of $1.23 per share.