Houston-based energy company CenterPoint Energy reported its non-GAAP earnings per share (EPS) of $0.45 for the first quarter of 2021, in line with analysts’ expectations. The company also reaffirmed its outlook for fiscal year 2026.
According to the company’s press release, CenterPoint’s total operating revenues for the quarter were $2.6 billion, a 3.5% increase compared to the same period last year. This was primarily driven by higher natural gas sales and services revenues.
The company’s net income for the quarter was $240 million, or $0.45 per diluted share, compared to $192 million, or $0.36 per diluted share, in the first quarter of 2020. This increase was attributed to higher revenues and lower operating and maintenance expenses.
CenterPoint’s President and CEO, Dave Lesar, stated, “We are pleased with our first quarter results, which reflect our continued focus on operational excellence and cost management. We remain committed to delivering long-term value for our shareholders.”
The company also reaffirmed its outlook for fiscal year 2026, with expected EPS growth of 5-7% and a targeted dividend payout ratio of 50-60% of net income.
In addition, CenterPoint announced that it has completed the sale of its natural gas retail business, CenterPoint Energy Services, to Energy Capital Partners. This transaction is expected to generate approximately $400 million in net proceeds, which will be used to reduce the company’s debt.
CenterPoint’s stock price has been relatively stable, with a 1-year return of 6.5%. The company’s shares closed at $20.85 on Tuesday, up 0.5% from the previous day’s close.
In conclusion, CenterPoint Energy has reported solid first quarter results and reaffirmed its outlook for fiscal year 2026. The company’s focus on operational excellence and cost management, as well as the recent sale of its natural gas retail business, are expected to drive long-term value for shareholders.
