CenterPoint Energy Reports Q2 Profit; Increases Full Year EPS Guidance

(RTTNews) - CenterPoint Energy, Inc. (CNP) reported second-quarter net income of $107 million, or $0.25 per share, compared to a net loss of $100 million, or $0.23 per share, previous year.

The company's prior year results included two unusual items related to the May 1, 2013, formation of the midstream partnership. Excluding these items, the prior year second quarter net income would have been $131 million, or $0.30 per share.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.23 for the quarter. Analysts' estimates typically exclude special items.

Total revenue decreased to $1.88 billion from $1.89 billion, a year ago. Analysts expected revenue of $1.82 billion for the quarter.

CenterPoint Energy reaffirmed its earnings estimate for 2014 Utility Operations to be in the range of $0.72 to $0.76 per share. The company revised its 2014 earnings estimate from Midstream Investments to be in the range of $0.42 to $0.45 per share. On a consolidated basis, CenterPoint Energy increased its earnings estimate for 2014 on a guidance basis to be in the range of $1.14 to $1.21 per share. Analysts expect the company to reort 2014 earnings per share of $1.17.