CenterPoint Energy Q2 Profit Down; Reaffirms FY Profit View - Quick Facts

(RTTNews) - CenterPoint Energy, Inc. (CNP) reported that its net income for the second-quarter 2015 declined to $77 million, or $0.18 per share, from $107 million, or $0.25 per share for the same period of the prior year.

On a guidance basis, for the second quarter 2015, CenterPoint Energy earned 19 cents per share consisting of 13 cents from utility operations and 6 cents from midstream investments.

Total revenues for the quarter declined to $1.532 billion from $1.884 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share and revenues of $1.87 billion for the second-quarter. Analysts' estimates typically exclude special items.

CenterPoint Energy is targeting 4-6 percent annual earnings per share growth on a guidance basis through 2018, inclusive of midstream investments, and anticipates dividend growth to be in line with EPS growth. CenterPoint Energy remains committed to providing a secure dividend with stable, competitive growth.

CenterPoint Energy reaffirmed that its earnings estimate for 2015 utility operations is in the range of $0.71 - $0.75 per share. The company expects its 2015 earnings estimate from midstream investments to be in the range of $0.29 - $0.35 per diluted share.

On a consolidated basis, CenterPoint Energy reaffirmed earnings on a guidance basis for 2015 in the range of $1.00 - $1.10 per share. Analysts expect annual earnings of $ 1.05 per share. It anticipates utility operations earnings for 2015 near the high end of the range while midstream investments' earnings are anticipated to be near the low end of the range provided.