CenterPoint Energy Q1 Profit Down; Backs 2015 EPS View - Quick Facts

(RTTNews) - CenterPoint Energy Inc. (CNP) reported first quarter of 2015 net income of $131 million or $0.30 per share, down from $185 million or $0.43 per share in the same period of the prior year.

On a guidance basis, for the first quarter 2015, CenterPoint Energy earned $0.30 per share. Utility operations earned $0.22 per share and the equity investment in midstream operations earned $0.08 per share.

Operating income for the first quarter of 2015 was $256 million, compared with $295 million in the prior year. Equity income from the company's investment in midstream operations was $52 million, for the first quarter of 2015, compared with $91 million in the prior year.

Total revenues for the quarter dropped to $2.433 billion from $3.163 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share and revenues of $2.88 billion for the quarter. Analysts' estimates typically exclude special items.

CenterPoint Energy reaffirms that its earnings estimate for 2015 utility operations is in the range of $0.71 to $0.75 per share. The company expects its 2015 earnings estimate from its equity investment in midstream operations to be in the range of $0.29 to $0.35 per share. On a consolidated basis, CenterPoint Energy reaffirmed earnings on a guidance basis for 2015 in the range of $1.00 to $1.10 per share. Analysts expect annual earnings of $1.07 per share.