CenterPoint Energy (CNP) 2023 Full-Year Earnings Hit $1.50 Non-GAAP EPS
CenterPoint Energy reported a Q4 Non-GAAP EPS of $0.32, aligning with expectations, and a full-year earnings of $1.50 per share.
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In the latest financial disclosures, CenterPoint Energy Inc. (NYSE: CNP) unveiled its performance for the fourth quarter and the full year of 2023, marking significant strides in its operational and financial metrics.
CenterPoint Energy reported a robust quarter, underscoring the effectiveness of its strategic initiatives and operational efficiency. The company announced Q4 2023 earnings of $0.30 per diluted share on a GAAP basis, with non-GAAP earnings per diluted share at $0.32.
This performance represents a 9% increase over the 2022 full-year non-GAAP EPS of $1.38. The full-year earnings for 2023 were also impressive, with a reported $1.37 per diluted share on a GAAP basis and $1.50 on a non-GAAP basis.
These results were primarily fueled by growth and regulatory recovery, which contributed to a $0.05 per share increase and a one-time tax benefit that, along with other favorable earnings drivers, added another $0.06 per share. However, these gains were partially offset by an increase in interest expense, which had an adverse variance of $0.05 per share compared to Q4 2022.
CenterPoint Energy Reports Revenue and EPS in line with Expectations in Q4
Comparing the actual performance with market expectations, CenterPoint Energy’s Q4 2023 non-GAAP EPS of $0.32 aligned perfectly with analyst predictions of $0.32 EPS and slightly exceeded the anticipated revenue of $2.7 billion. This alignment indicates a solid operational standing and the company’s ability to meet market forecasts, even in a challenging economic environment. Despite increased interest expenses, the consistent growth in non-GAAP EPS underscores the company’s resilience and effective cost management strategies.
Guidance
Looking ahead, CenterPoint Energy has reiterated its non-GAAP EPS guidance range for 2024 at $1.61-$1.63, projecting an 8% growth over the full-year 2023 non-GAAP EPS. This guidance reflects the company’s confidence in its long-term growth trajectory, supported by an increased 10-year capital plan amounting to $44.5 billion—a $600 million uplift through 2030.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
