CenterPoint Results In Line – Analyst Blog
Zacks Market Commentaries (October 29th, 2009) Writes:
Energy delivery company CenterPoint Energy Inc. (CNP) today posted net earnings of 31 cents per share, in line with Zacks Consensus Estimate of 31 cents and lower than last year’s earnings of 39 cents. The company’s core regulated operations reported strong earnings results during the quarter despite the economic downturn.
Net revenues in the quarter increased 60% over a year ago to $2,515 million, driven by revenue increases at the natural gas distribution and competitive natural gas sales & services businesses. Operating income reported in the quarter was down 15% year-over-year to $287 million, due to lower natural gas and natural gas liquids prices, a decline in natural gas throughput from the traditional basins and reduced basis differentials.
Operating income at CenterPoint’s electric transmission & distribution segment improved 8% over last year to $218 million, consisting of $187 million from the regulated electric transmission & distribution ...


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