CenterPoint Energy reports full year 2016 earnings of $1.00 per diluted share; $1.16 per diluted share on a guidance basis

Electric Transmission & Distribution

The electric transmission & distribution segment reported full-year 2016 operating income of $628 million, consisting of $537 million from the regulated electric transmission & distribution utility operations (TDU) and $91 million related to securitization bonds.Operating income for the same period of 2015 was $607 million, consisting of $502 million from the TDU and $105 million related to securitization bonds.

Full-year 2016 operating income for the TDU benefited from rate relief, customer growth with the addition of over 54,000 customers, as well as higher equity return, primarily due to true-up proceeds.  These increases were partially offset by higher depreciation, higher O&M expenses and lower right of way revenues. 

Natural Gas Distribution

The natural gas distribution segment reported full-year 2016 operating income of $303 million compared with $273 million in 2015. 

Full-year 2016 operating income for natural gas distribution improved as a result of rate relief, lower bad debt expense and customer growth with the addition of more than 35,000 customers. This improvement was partially offset by increased depreciation and amortization, increased labor and benefits expenses and increased contract services expenses. 

Energy Services

The energy services segment reported full-year 2016 operating income of $20 million, which included a mark-to-market loss of $21 million, compared with $42 million in 2015, which included a mark-to-market gain of $4 million. Excluding mark-to-market adjustments, operating income was $41 million in 2016 and $38 million in 2015. 

Midstream Investments

The midstream investments segment reported full-year 2016 equity income of $208 million, compared to a loss of $1,633 million in 2015, which included the impairment charges noted above. The impairments in 2015 were partially offset by full-year earnings of $213 million.

Earnings Outlook

CenterPoint Energy expects earnings on a guidance basis for 2017 in the range of $1.25 - $1.33 per diluted share.  This guidance includes anticipated utility operations earnings of $0.93 – $0.97 per diluted share and anticipated midstream investment earnings of $0.31 - $0.37 per diluted share.

The utility operations guidance range considers performance to date and certain significant variables that may impact earnings, such as weather, regulatory and judicial proceedings, throughput, commodity prices, effective tax rates, and financing activities.

In providing this guidance, the company uses a non-GAAP measure of adjusted diluted earnings per share that does not consider other potential impacts, such as changes in accounting standards or unusual items, earnings or losses from the change in the value of the ZENS securities and the related stocks, or the timing effects of mark-to-market accounting in the company's Energy Services business. 

In providing guidance for midstream investments, the company assumes a 54.1 percent limited partner ownership interest in Enable Midstream and includes the amortization of CenterPoint Energy's basis differential in Enable Midstream. CenterPoint Energy's guidance takes into account such factors as Enable Midstream's most recent public outlook for 2017 dated Feb. 21, 2017, and effective tax rates. The company does not include other potential impacts such as any changes in accounting standards or Enable Midstream's unusual items.  

CenterPoint Energy, Inc. and Subsidiaries Reconciliation of Net Income (Loss) and
Diluted EPS to Adjusted Net Income and Adjusted Diluted EPS used in providing annual earnings guidance
	Twelve Months Ended
	December 31, 2016				December 31, 2015
	Net Income (in millions)		Diluted EPS		Net Income (in millions)		Diluted EPS
Consolidated as reported	$            432		$          1.00		$          (692)		$         (1.61)
Midstream Investments	(121)		(0.28)		1,024		2.38
Utility Operations (1)	311		0.72		332		0.77
Loss on impairment of Midstream Investments:
CenterPoint's impairment of its investment in Enable (net of taxes of $456)(3)	-		-		769		1.79
CenterPoint's share of Enable's impairment of its goodwill and long-lived assets (net of taxes of $233)(3)	-		-		388		0.90
Total loss on impairment	-		-		1,157		2.69
Midstream Investments excluding loss on impairment	121		0.28		133		0.31
Consolidated excluding loss on impairment	432		1.00		465		1.08
Timing effects impacting CES(2):
Mark-to-market (gains) losses (net of taxes of $8 and $2)(3)	13		0.03		(2)		(0.01)
ZENS-related mark-to-market (gains) losses:
Marketable securities (net of taxes of $114 and $33) (3)(4)	(212)		(0.49)		60		0.14
Indexed debt securities (net of taxes of $145 and $26) (3)(5)	268		0.62		(48)		(0.11)
Utility operations earnings on an adjusted guidance basis	$            380		$          0.88		$            342		$           0.79
Adjusted net income and adjusted diluted EPS used in providing earnings guidance:
Utility Operations on a guidance basis	$            380		$          0.88 Werbung Mehr Nachrichten zur CenterPoint Energy Inc Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 09:44 - PR Newswire Cohen & Steers Capital Management - Form 8.3 - Tritax Big Box REIT plc 08:55 - PR Newswire Norges Bank - Form 8.3 - International Paper Company 02:00 - PR Newswire KR1 Plc - Notice of Results Brandaktuell!    InnoCan Pharma: Großartige Gelegenheit kurz vor den Quartalszahlen?! weiterlesen» Anzeige wo-site-teaser-box-16890_site-teaser-box_2024-05-09_09%253A00%253A00_2024-05-10_09%253A00%253A59