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Mar 31, 2023
CenterPoint Energy Q1 2023 Earnings Report
CenterPoint Energy reported strong Q1 earnings, driven by regulatory recovery and reduced O&M expenses, while navigating headwinds from higher interest expense and mild winter weather.
Key Takeaways
CenterPoint Energy reported a positive start to 2023 with Q1 GAAP earnings of $0.49 per diluted share and non-GAAP earnings of $0.50 per diluted share. The company reaffirmed its 2023 non-GAAP EPS guidance range of $1.48-$1.50, representing an 8% growth over 2022.
Q1 2023 GAAP earnings were $0.49 per diluted share.
Q1 2023 non-GAAP EPS was $0.50, a 6% increase year-over-year.
2023 non-GAAP EPS guidance reaffirmed at $1.48-$1.50, reflecting 8% growth.
Capital investments are on track, with over a quarter of the year's planned $3.6B already deployed.
Forward Guidance
CenterPoint Energy reaffirmed its non-GAAP EPS guidance range for 2023 at $1.48 to $1.50, representing an 8% growth over 2022. The company is targeting 8% growth in non-GAAP EPS for 2024 and a growth rate in the mid-to-high end of 6%-8% annually thereafter through 2030.
Positive Outlook
- Continued execution of long-term growth strategy.
- Targeting 8% growth in non-GAAP EPS in 2023 and 2024.
- Capital spending supports robust organic growth.
- Enhancements in safety and grid resiliency through capital investments.
- Addition of Chris Foster as CFO increases confidence in management team.
Challenges Ahead
- Higher interest expense.
- Mild winter weather impacted earnings.
- Changes in accounting standards.
- Potential future impairments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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