NYSE:CNP

CenterPoint Energy Reports Strong Q1 2024 Results; Files System Resiliency Plan; Reiterates 2024 Full Year Guidance

Retrieved on: 
Tuesday, April 30, 2024
Utilities, Energy, Investment, Weather, News, CNP, EPS, GAAP, CenterPoint Energy, Growth, Bank

Non-GAAP EPS for the first quarter 2024 was $0.55, a 10% increase to the comparable quarter of 2023.

Key Points: 
  • Non-GAAP EPS for the first quarter 2024 was $0.55, a 10% increase to the comparable quarter of 2023.
  • These strong first quarter results were primarily driven by growth and regulatory recovery, which contributed $0.09 per share of favorability.
  • We continue to explore ways to thoughtfully enhance this already great plan for all stakeholders,” said Jason Wells, President & CEO of CenterPoint.
  • To the extent actual results deviate from these assumptions, the 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change.

CenterPoint Energy Reports Strong Q4 and Full-year 2023 Results; Increases Capital Investment Plan; Reiterates 2024 Guidance

Retrieved on: 
Tuesday, February 20, 2024
Energy, Utilities, Oil, Gas, Transfer, CenterPoint Energy, News, Growth, Sale, GAAP, LDC, CNP, EPS, Recycling, Bank

Non-GAAP EPS for the fourth quarter 2023 was $0.32, a 14% increase to the comparable quarter of 2022.

Key Points: 
  • Non-GAAP EPS for the fourth quarter 2023 was $0.32, a 14% increase to the comparable quarter of 2022.
  • These favorable drivers were partially offset by an unfavorable variance of $0.05 per share attributable to increased interest expense over the comparable quarter of 2022.
  • “I am excited and humbled to have the privilege to lead CenterPoint into its next chapter,” said Jason Wells, CEO of CenterPoint.
  • To the extent actual results deviate from these assumptions, the 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change.

CenterPoint Energy announces sale of its Louisiana and Mississippi natural gas assets to Bernhard Capital Partners for $1.2 billion

Retrieved on: 
Tuesday, February 20, 2024
Energy, Utilities, Oil, Gas, CenterPoint Energy, Natural gas, Growth, Sale, Wells Fargo, Safety, PLLC, Hart–Scott–Rodino Antitrust Improvements Act, Public expenditure, LDC, CNP, EPS, Renewable energy

CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint”) today announced the sale of its Louisiana and Mississippi natural gas LDC businesses to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for $1.2 billion.

Key Points: 
  • CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint”) today announced the sale of its Louisiana and Mississippi natural gas LDC businesses to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for $1.2 billion.
  • The assets include approximately 12,000 miles of main pipeline in Louisiana and Mississippi serving approximately 380,000 metered customers.
  • CenterPoint’s LDCs are the second largest natural gas LDCs in both Louisiana and Mississippi by customer accounts, with a combined workforce of approximately 550 employees.
  • The sales price of $1.2 billion represents approximately 32 multiple of 2023 Louisiana and Mississippi LDC earnings.

CenterPoint Energy Reports Strong Q3 Results, Raises Full Year 2023 Guidance and Capital Plan, and Initiates 2024 Guidance

Retrieved on: 
Thursday, October 26, 2023
Utilities, Energy, Transfer, CenterPoint Energy, Weather, NYSE, News, GAAP, Lesar, Centerpoint, Growth, EPS, CNP, Investment, Thomson-Houston Electric Company, Impaired asset, Security (finance), Petroleum, Bank, Beauty salon

Non-GAAP EPS for the third quarter 2023 was also $0.40, a 25% increase to the comparable quarter of 2022.

Key Points: 
  • Non-GAAP EPS for the third quarter 2023 was also $0.40, a 25% increase to the comparable quarter of 2022.
  • This will include approximately $200 million in 2023 and approximately $300 million in 2024 and 2025.
  • 2022 and 2023 non-GAAP EPS; 2023 and 2024 non-GAAP EPS guidance range
    Beginning in 2022, CenterPoint no longer separated utility and midstream operations and reported on a consolidated non-GAAP EPS basis.
  • To the extent actual results deviate from these assumptions, the 2023 and/or 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change.

CenterPoint Energy Announces Leadership Succession

Retrieved on: 
Thursday, October 26, 2023
Energy, Utilities, Oil, Gas, CenterPoint Energy, Safety, Growth, Chairperson, NYSE, Partnership, CNP, Centerpoint, Management

CenterPoint Energy, Inc. (NYSE: CNP) today announced a leadership transition that helps position the company to continue driving sustainable value for customers, communities, investors and employees.

Key Points: 
  • CenterPoint Energy, Inc. (NYSE: CNP) today announced a leadership transition that helps position the company to continue driving sustainable value for customers, communities, investors and employees.
  • The Board has unanimously appointed Jason P. Wells, CenterPoint Energy President and Chief Operating Officer, to become President and Chief Executive Officer and a member of the Board of Directors, effective January 5, 2024.
  • “Today’s announcement reflects the Board’s longstanding and robust leadership succession planning and stakeholder engagement process.
  • I am honored to lead the exceptional and dedicated team at CenterPoint Energy that puts customers and communities at the forefront of all we do.

CenterPoint Energy Appoints New Board Members Thaddeus J. Malik and Ricky A. Raven

Retrieved on: 
Tuesday, October 3, 2023
Allstate, Senior, Electricity, Risk management, Cummings, CNP, CenterPoint Energy, Natural gas, NYSE, Independent, Management, Thad

With the appointments of Malik and Raven, CenterPoint Energy's Board is now composed of 11 directors, 10 of whom are independent.

Key Points: 
  • With the appointments of Malik and Raven, CenterPoint Energy's Board is now composed of 11 directors, 10 of whom are independent.
  • "The decision to expand our Board of Directors with the additions of Thad and Ricky reflects our ongoing commitment to anchor the Board with directors who have outstanding corporate governance backgrounds," said Earl M. Cummings, Independent Chair of the Board.
  • Malik said, "CenterPoint Energy serves an immensely important role in supporting communities by delivering electricity and natural gas to millions of customers across six states, and I am honored to join the Board.
  • As a CenterPoint Energy customer, I have long admired the critically important work and services the company provides to its customers and communities."

CenterPoint Energy appoints new Independent Board Chair

Retrieved on: 
Tuesday, August 22, 2023
Professional Football Compensation Committee, Audit, CNP, Government, CenterPoint Energy, Biophysical environment, NYSE, Independent Board for Presbyterian Foreign Missions, Management

HOUSTON, Aug. 21, 2023 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) announced that the company's Board of Directors has appointed Earl M. Cummings as its Independent Board Chair. Mr. Cummings has served as an Independent Director of CenterPoint Energy's Board of Directors since 2020. During that time, he has also served as the Chair of the Governance, Environmental and Sustainability Committee, as well as a member of the Audit and Compensation Committees.

Key Points: 
  • HOUSTON, Aug. 21, 2023 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) announced that the company's Board of Directors has appointed Earl M. Cummings as its Independent Board Chair.
  • Mr. Cummings has served as an Independent Director of CenterPoint Energy's Board of Directors since 2020.
  • Mr. Cummings succeeds Martin H. Nesbitt, who served as Independent Board Chair since July 2021.
  • Mr. Cummings said, "I feel privileged to take on the role of Independent Chair of the Board at such an exciting time for our company.

CenterPoint Energy, Inc. Announces Pricing of Offering of $900 Million of 4.25% Convertible Senior Notes Due 2026

Retrieved on: 
Wednesday, August 2, 2023
Energy, Utilities, Oil, Gas, Note, Centerpoint, SEC Rule 144A, Debt-to-GDP ratio, Person, CNP, Electric Bond and Share Company v. Securities and Exchange Commission, Sale, CenterPoint Energy, Risk, Security (finance), NYSE

In addition, CenterPoint Energy also granted the initial purchasers of the convertible notes in the offering the option to purchase up to an additional $100 million aggregate principal amount of convertible notes within a 13-day period beginning on, and including, the date on which the convertible notes are first issued.

Key Points: 
  • In addition, CenterPoint Energy also granted the initial purchasers of the convertible notes in the offering the option to purchase up to an additional $100 million aggregate principal amount of convertible notes within a 13-day period beginning on, and including, the date on which the convertible notes are first issued.
  • The convertible notes will be senior, unsecured obligations of CenterPoint Energy.
  • The convertible notes will mature on August 15, 2026, unless earlier converted or repurchased.
  • Prior to May 15, 2026, the convertible notes will be convertible only upon the occurrence of certain events and during certain periods.

CenterPoint Energy, Inc. Announces Offering of $900 Million of Convertible Senior Notes Due 2026

Retrieved on: 
Tuesday, August 1, 2023
Energy, Utilities, Oil, Gas, Note, Centerpoint, SEC Rule 144A, Debt-to-GDP ratio, Person, CNP, Electric Bond and Share Company v. Securities and Exchange Commission, Sale, CenterPoint Energy, Risk, Security (finance), NYSE, Convertible

In addition, CenterPoint Energy intends to grant the initial purchasers of the convertible notes in the offering the option to purchase up to an additional $100 million aggregate principal amount of convertible notes within a 13-day period beginning on, and including, the date on which the convertible notes are first issued.

Key Points: 
  • In addition, CenterPoint Energy intends to grant the initial purchasers of the convertible notes in the offering the option to purchase up to an additional $100 million aggregate principal amount of convertible notes within a 13-day period beginning on, and including, the date on which the convertible notes are first issued.
  • The convertible notes will be senior, unsecured obligations of CenterPoint Energy.
  • The convertible notes will mature on August 15, 2026, unless earlier converted or repurchased.
  • Prior to May 15, 2026, the convertible notes will be convertible only upon the occurrence of certain events and during certain periods.