CenterPoint Energy(CNP)
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CenterPoint Energy(CNP) - 2021 Q4 - Annual Report
2022-02-21 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ Form 10-K 1-31447 CenterPoint Energy, Inc. 74-0694415 (a Texas corporation) 1111 Louisiana Houston, Texas 77002 (713) 207-1111 1-3187 CenterPoint Energy Houston Electric, LLC 22-3865106 (a Texas limited liability company) 1111 Louisiana Houston, Texas 77002 (713) 207-1111 (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 OR ...
CenterPoint Energy(CNP) - 2021 Q3 - Earnings Call Presentation
2021-11-22 11:11
Establishing a path towards PREMIUM Through Sustainable Growth… THIRD QUARTER 2021 INVESTOR UPDATE November 4, 2021 Cautionary Statement and Other Disclaimers This presentation and the oral statements made in connection herewith contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this presentation and the oral statements made in connecti ...
CenterPoint Energy(CNP) - 2021 Q3 - Earnings Call Transcript
2021-11-04 15:02
CenterPoint Energy, Inc. (NYSE:CNP) Q3 2021 Earnings Conference Call November 4, 2021 8:00 AM ET Company Participants Philip Holder – Senior Vice President of Strategic Planning and Investor Relations David Lesar – CEO Jason Wells – CFO Conference Call Participants Anthony Crowdell – Mizuho Shar Pourreza – Guggenheim Partners Insoo Kim – Goldman Sachs Julien Dumoulin-Smith – Bank of America Durgesh Chopra – Evercore ISI Stephen Byrd – Morgan Stanley Operator Good morning and welcome to CenterPoint Energy's ...
CenterPoint Energy(CNP) - 2021 Q3 - Quarterly Report
2021-11-03 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________________ TO __________________ Commission file number 1-31447 CenterPoint Energy, Inc. (Exact name of registrant as specified ...
CenterPoint Energy(CNP) - 2021 Q2 - Earnings Call Presentation
2021-08-06 19:18
D E L I V E R I N G W I T H SECOND QUARTER 2021 INVESTOR UPDATE August 5, 2021 Cautionary Statement and Other Disclaimers This presentation and the oral statements made in connection herewith contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this presentation and the oral statements made in connection herewith are forward-looking state ...
CenterPoint Energy(CNP) - 2021 Q2 - Earnings Call Transcript
2021-08-05 17:25
Financial Data and Key Metrics Changes - For Q2 2021, CenterPoint reported Utility EPS of $0.28, up from $0.18 in Q2 2020, reflecting an 8% growth projection for the year [15][14] - The company raised its 2021 Utility EPS guidance range to $1.25 to $1.27, which is at the high end of its 6% to 8% annual growth target [14][38] - GAAP EPS for Q2 2021 was $0.37 compared to $0.11 in Q2 2020, while non-GAAP EPS was $0.36 compared to $0.21 in the prior year [34] Business Line Data and Key Metrics Changes - The company is experiencing strong customer growth rates, with approximately 2% growth for electric and 1% for natural gas in the first half of the year [19] - O&M costs are projected to save over $40 million in 2021, although they were slightly up compared to last year's second quarter due to COVID-related impacts [17][18] Market Data and Key Metrics Changes - CenterPoint's Houston service territory continues to show consistent growth, supported by the highest level of new home starts since 2005 [19] - The company anticipates a significant increase in capital investment opportunities due to new Texas legislation, estimating an additional $500 million over the current 5-year plan [20][22] Company Strategy and Development Direction - CenterPoint has updated its 5-year strategy, prioritizing investment in regulated businesses and increasing planned capital spending by about 25% to $16 billion [11] - The company aims for a 10% utility rate base CAGR, exceeding the peer group average of 8%, and has set a long-term utility EPS growth target of 6% to 8% [11][14] - A commitment to a net zero carbon target will be announced at the upcoming Analyst Day [13][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming past challenges and is focused on leveraging current tailwinds to enhance growth [13] - The company is optimistic about its ability to maintain its growth targets despite the sale of non-core assets and the exit from midstream investments [28][77] Other Important Information - The company is in the process of selling its Arkansas and Oklahoma gas LDCs, with expectations to close the transaction by the end of the year [26] - The Natural Gas Innovation Act in Minnesota allows for investments in clean energy resources, aligning with the company's carbon reduction goals [29][30] Q&A Session Summary Question: Insights on the $500 million opportunities in Texas - Management is assessing the details of the new legislation and expects to deploy about half of the $500 million over the next two years, focusing on emergency generation and battery storage [58][60] Question: Funding sources for the increased CapEx - The company plans to fund the increased CapEx without additional equity, utilizing proceeds from the gas LDC sale and tax benefits from a method change for repairs expense [64][68] Question: Customer bill impact from incremental CapEx - Management is focused on managing customer bill impacts through O&M reductions and efficient capital investments, ensuring that the growth in CapEx does not disproportionately affect customer bills [86]
CenterPoint Energy(CNP) - 2021 Q2 - Quarterly Report
2021-08-04 16:00
Financial Performance - CenterPoint Energy reported an income available to common shareholders of $221 million for the three months ended June 30, 2021, compared to $59 million for the same period in 2020, an increase of $162 million [313]. - For the six months ended June 30, 2021, income available to common shareholders increased by $1,724 million, primarily due to the impairment of investment in Enable in 2020 and favorable income tax impacts in 2021 [316]. - The total utility operations segment saw an increase in income available to common shareholders of $63 million, driven by rate relief and reduced impact from COVID-19 [314]. Revenue Growth - Electric segment revenues increased to $937 million for the three months ended June 30, 2021, up from $848 million in the same period in 2020, reflecting a $89 million increase [324]. - CenterPoint Energy's Natural Gas segment reported revenues of $740 million for the three months ended June 30, 2021, an increase of $96 million (15%) compared to $644 million in the same period of 2020 [329]. - Houston Electric reported total revenues of $786 million for the three months ended June 30, 2021, an increase of $66 million (9.2%) compared to $720 million for the same period in 2020 [335]. Customer Metrics - The number of metered customers at the end of the period increased by 2% to 2,783,920 compared to 2,716,522 in the previous year [324]. - The number of residential customers at the end of the period was 4,334,297, reflecting a 1% increase from 4,282,921 in the prior year [329]. - The number of metered customers at the end of the period was 2,634,108, reflecting a growth of 3% from 2,567,699 in the previous year [335]. Operating Income - CenterPoint Energy's operating income for the Electric segment was $201 million for the three months ended June 30, 2021, compared to $180 million in the same period in 2020, an increase of $21 million [324]. - Operating income for the Natural Gas segment increased to $91 million, a rise of $25 million (38%) compared to $66 million in the same quarter of 2020 [329]. - Operating income rose to $64 million for the three months ended June 30, 2021, compared to $42 million in the same period of 2020, an increase of $22 million or 52.4% [341]. Expenses - CenterPoint Energy's total expenses for the Electric segment increased to $692 million for the three months ended June 30, 2021, compared to $636 million in the same period in 2020 [324]. - Operating and maintenance expenses, excluding Bond Companies, were $389 million, an increase of $27 million (7.5%) from $362 million in the prior year [335]. - Interest expense decreased by $4 million to $34 million, compared to $38 million in the prior year [331]. Capital Expenditures and Financing - Capital expenditures for the six months ended June 30, 2021, were $(105) million, a decrease from $(187) million in the same period of 2020, reflecting a favorable variance of $82 million [349]. - Estimated capital expenditures for CenterPoint Energy are projected to be $1.897 billion, with $894 million allocated for Houston Electric and $632 million for CERC [352]. - CenterPoint Energy plans to finance anticipated cash needs through borrowings under credit facilities, long-term debt issuance, and cash flows from operations [356]. Regulatory and Rate Cases - CenterPoint Energy filed a base rate case with the IURC seeking a revenue increase of approximately $29 million, with a proposed return on equity of 10.15% [374]. - A settlement agreement recommended a revenue decrease of $6 million based on a 9.8% ROE and an overall after-tax rate of return of 6.16% on the same total rate base of approximately $1,611 million [375]. - The Texas legislature enacted Senate Bill 3, establishing weatherization and power grid requirements, and Senate Bill 415, allowing TDUs to contract for electric energy storage systems [378]. Natural Gas Costs and Recovery - CenterPoint Energy incurred approximately $2.1 billion in incremental costs for natural gas supplies due to the February 2021 Winter Storm Event, with $2.0 billion attributed to CERC [353]. - The total estimated incremental natural gas costs for recovery across various states amount to $2.099 billion, with Texas accounting for $1.082 billion [367]. - The company expects to recover costs related to the February 2021 Winter Storm Event over a five-year period in Arkansas, with recovery applications filed in multiple states [359]. Debt and Credit Ratings - CenterPoint Energy's senior unsecured debt is rated Baa2 by Moody's and BBB by S&P, both with a stable outlook [401]. - A downgrade in credit ratings could increase borrowing costs under the revolving credit facilities, but the impact would have been insignificant if downgraded one notch as of June 30, 2021 [403]. - CenterPoint Energy's revolving credit facilities aggregated approximately $4 billion as of June 30, 2021, with a total utilization of $1.731 billion [393]. Environmental Goals and Compliance - CenterPoint Energy's corporate carbon emission goals aim for a 50% reduction in GHG emissions by 2035, aligning with regulatory expectations [390]. - The company is currently unable to predict the future of the CPP or ACE Rule under the Biden Administration, which may impact its regulatory compliance strategies [389]. - Regulatory authority allows CenterPoint Energy to lock in pricing for up to 50% of annual natural gas purchases, mitigating commodity price risk [435].
CenterPoint Energy(CNP) - 2021 Q1 - Earnings Call Presentation
2021-05-07 23:47
D E L I V E R I N G W I T H FIRST QUARTER 2021 INVESTOR UPDATE May 6, 2021 Cautionary Statement and Other Disclaimers This presentation and the oral statements made in connection herewith contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this presentation and the oral statements made in connection herewith are forward-looking statement ...
CenterPoint Energy(CNP) - 2021 Q1 - Earnings Call Transcript
2021-05-06 17:42
CenterPoint Energy, Inc. (NYSE:CNP) Q1 2021 Earnings Conference Call May 6, 2021 8:00 AM ET Company Participants Phil Holder – Senior Vice President-Strategic Planning and Investor Relations Dave Lesar – Chief Executive Officer Jason Wells – Chief Financial Officer Tom Webb – Senior Adviser Jackie Richert – Investor Relations Conference Call Participants Insoo Kim – Goldman Sachs Shar Pourreza – Guggenheim Partners Steve Fleishman – Wolfe Research Durgesh Chopra – Evercore ISI Julien Dumoulin-Smith – Bank o ...
CenterPoint Energy(CNP) - 2021 Q1 - Quarterly Report
2021-05-05 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________________ TO __________________ Commission file number 1-31447 CenterPoint Energy, Inc. (Exact name of registrant as specified in ...