CenterPoint Energy Reiterates 2023 Guidance

(RTTNews) - CenterPoint Energy, Inc. (CNP) reiterated the company's 2023 non-GAAP EPS guidance range of $1.48-$1.50, which represents an 8% growth over 2022 actual at the midpoint. Looking forward, the company reiterated growth targets of 8% for 2024 and the mid-to-high end of 6%-8% annually thereafter, through 2030.

The company reported income available to common shareholders of $122 million, or $0.19 per share on a GAAP basis, for the fourth quarter of 2022 compared to $1.01 of EPS for the fourth quarter 2021 which included the impact of the merger between Enable Midstream, LP and Energy Transfer LP and subsequent divestitures of midstream investment.

Non-GAAP EPS for the fourth quarter 2022 was $0.28, a 4% increase over the comparable 2021 non-GAAP utility EPS. The company said the positive variance was predominantly driven by increased regulatory recovery of capital, which contributed $0.06 per share, largely from the Houston Electric service territory. The cold weather across a number of service territories contributed another $0.02 per share of favorable variance over the comparable quarter of 2021. Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

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