CenterPoint Energy, Inc.
) reported fourth-quarter 2013 adjusted earnings of 26 cents per
share, missing the Zacks Consensus Estimate by a penny. The
figure was also down 16.1% from 31 cents a year ago.
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For 2013, the company???s adjusted earnings were $1.26 per share,
surpassing the Zacks Consensus Estimate by 3.3%. Annual earnings
decreased 6.7% from the prior-year figure.
On a GAAP basis, annual earnings were 72 cents per share down
from 97 cents per share a year ago. The variance between GAAP and
adjusted earnings was due to the combined impact of a non-cash
deferred tax charge and pre-tax partnership formation expenses.
CenterPoint Energy???s total revenue for the reported quarter was
$2.18 billion, beating the Zacks Consensus Estimate by 52.8%.
Quarterly revenues improved 2.2% from the year-ago figure.
The company???s total annual revenue was $8.1 billion, outpacing
the Zacks Consensus Estimate by 13.2%. Reported revenues
increased 8.8% year over year.
In the quarter under review, CenterPoint Energy???s total
expenses soared 7.9% year over year to $1,973 million, primarily
due to a surge in natural gas expenses. This was partially offset
by lower operation and maintenance and depreciation expenses.
The company???s operating margin was 9.7% in the reported
quarter, down from 14.5% a year ago.
Total interest expenses decreased around 18% year over year to
In fourth-quarter 2013, the
Electric Transmission & Distribution
segment reported operating income of $119 million, up 20% year
Natural Gas Distribution
???s operating income inched up 3% year over year to $94 million.
segment???s operating income dropped a substantial 92% year over
year to $1 million. In the quarter, the
segments did not post any operating income. The
segment reported a loss of $3 million.
As of Dec 31, 2013, CenterPoint Energy reported cash and cash
equivalents of $208 million, down from $646 million as of Dec 31,
Total long-term debt was $7,817 million as of Dec 31, 2013, down
from $8,357 million at the end of Dec 31, 2012.
For 2013, net cash provided by operating activities was $11,613
million, considerably lower than $1,860 million in the year-ago
CenterPoint Energy???s capital expenditures in 2013 increased
7.1% year over year to $1,272 million, primarily on increased
investments in the Electric Transmission & Distribution and
Natural Gas Distribution segments.
) reported adjusted earnings of 81 cents per share for the fourth
quarter of 2013, beating the Zacks Consensus Estimate of 65 cents
CenterPoint Energy currently has a Zacks Rank #4 (Sell). However,
some better-ranked stocks in the same industry include
Public Service Enterprise Group Inc.
American Electric Power Co., Inc.
). While Public Service Enterprise sports a Zacks Rank #1 (Strong
Buy), American Electric Power carries a Zacks Rank #2 (Buy).