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CenterPoint Energy Reports Strong Q3 Results, Raises Full Year 2023 Guidance and Capital Plan, and Initiates 2024 Guidance

Retrieved on: 
Thursday, October 26, 2023

Non-GAAP EPS for the third quarter 2023 was also $0.40, a 25% increase to the comparable quarter of 2022.

Key Points: 
  • Non-GAAP EPS for the third quarter 2023 was also $0.40, a 25% increase to the comparable quarter of 2022.
  • This will include approximately $200 million in 2023 and approximately $300 million in 2024 and 2025.
  • 2022 and 2023 non-GAAP EPS; 2023 and 2024 non-GAAP EPS guidance range
    Beginning in 2022, CenterPoint no longer separated utility and midstream operations and reported on a consolidated non-GAAP EPS basis.
  • To the extent actual results deviate from these assumptions, the 2023 and/or 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change.

CenterPoint Energy announces appointment of Christopher Foster as Executive Vice President and Chief Financial Officer

Retrieved on: 
Wednesday, March 15, 2023

HOUSTON, March 15, 2023 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) today announced the appointment of Christopher Foster as Executive Vice President and Chief Financial Officer, effective May 5.

Key Points: 
  • HOUSTON, March 15, 2023 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) today announced the appointment of Christopher Foster as Executive Vice President and Chief Financial Officer, effective May 5.
  • He will report to CenterPoint Energy's Chief Executive Officer Dave Lesar and serve on the company's Executive Committee.
  • Foster joins CenterPoint Energy from PG&E Corporation where he held roles of increasing responsibility over the past 11 years.
  • Most recently, he served as Executive Vice President and Chief Financial Officer overseeing PG&E's financial activities.

CenterPoint Energy announces organizational changes

Retrieved on: 
Tuesday, January 3, 2023

HOUSTON, Jan. 3, 2023 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) today announced organizational changes designed to further strengthen execution of the company's long-term growth strategy, its service to customers and communities, value-creation for stakeholders, operational efficiencies, and corporate governance. The streamlined structure, which is effective today, builds upon the previously announced promotion of Jason Wells to President and Chief Operating Officer, effective Jan. 1, with Dave Lesar continuing to serve as Chief Executive Officer. Wells will report to Lesar.

Key Points: 
  • HOUSTON, Jan. 3, 2023 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) today announced organizational changes designed to further strengthen execution of the company's long-term growth strategy, its service to customers and communities, value-creation for stakeholders, operational efficiencies, and corporate governance.
  • Wilson has 20 years of experience in combined electric and natural gas utilities with CenterPoint Energy and its predecessor companies.
  • Within the electric business, CenterPoint Energy announced an appointment and promotion designed to further its focus on future growth, grid modernization and strategic investments.
  • With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

CenterPoint Energy Reports Strong Q3 2022 Results and Updates Long-Term Capital Plan

Retrieved on: 
Tuesday, November 1, 2022

We remain on track to deliver on our full-year $1.37-$1.39 of non-GAAP EPS for 2022, a 9% growth for the year.

Key Points: 
  • We remain on track to deliver on our full-year $1.37-$1.39 of non-GAAP EPS for 2022, a 9% growth for the year.
  • We are equally excited to provide an updated capital plan that increases our previous $40B-plus customer-driven capital plan by $2.3B to nearly $43B through 2030.
  • Beginning in 2022, CenterPoint no longer separates utility and midstream operations and will report on a consolidated non-GAAP EPS basis.
  • To the extent actual results deviate from these assumptions, the 2022 non-GAAP EPS guidance range may not be met, or the projected annual non-GAAP EPS growth rate may change.

CenterPoint Energy Announces Promotion of EVP & CFO Jason P. Wells to President and Chief Operating Officer; Dave Lesar to Continue to Serve as CEO

Retrieved on: 
Tuesday, November 1, 2022

Dave Lesar will continue to serve as Chief Executive Officer.

Key Points: 
  • Dave Lesar will continue to serve as Chief Executive Officer.
  • We know from our extensive shareholder engagement efforts that ensuring a deep leadership pipeline is also an important priority for our shareholders.
  • The selection of Jason Wells for this critical execution-focused role represents the achievement of a significant milestone, and the Board has every confidence in his continued leadership.
  • With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

CenterPoint Energy Reports First Quarter Earnings Results and Reaffirms Full Year Guidance

Retrieved on: 
Tuesday, May 3, 2022

Despite that, non-GAAP EPS for the first quarter of 2022 was still flat to the comparable non-GAAP EPS results for the first quarter of 2021.

Key Points: 
  • Despite that, non-GAAP EPS for the first quarter of 2022 was still flat to the comparable non-GAAP EPS results for the first quarter of 2021.
  • We are on track to meet our $1.36-1.38 non-GAAP EPS guidance for the full year, including the $0.47 we reported for the first quarter of 2022.
  • In addition to presenting its financial results in accordance with GAAP, including presentation of income (loss) available to common shareholders and diluted earnings (loss) per share, CenterPoint Energy provides guidance based on non-GAAP income and non-GAAP diluted earnings per share.
  • Management evaluates CenterPoint Energys financial performance in part based on non-GAAP income and non-GAAP earnings per share.

CenterPoint Energy Announces Full Exit from Midstream Interest and Receives Improved Credit Thresholds from Moody’s

Retrieved on: 
Monday, March 28, 2022

The net proceeds will be used to pay down associated debt and taxes from the transaction.

Key Points: 
  • The net proceeds will be used to pay down associated debt and taxes from the transaction.
  • Additionally, Moodys Investors Service, Inc. recently revised the CenterPoint Energy, Inc. downgrade threshold of cash flow from operations (pre-working capital) to debt ratio to 13% from 14%.
  • Our long-term strategy also supports a transition to a cleaner energy future that will benefit our customers and our investors.
  • With approximately 9,400 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

CenterPoint Energy Announces Leadership Promotions and Appointments

Retrieved on: 
Monday, December 13, 2021

HOUSTON, Dec. 13, 2021 /PRNewswire/ --In conjunction with the CenterPoint Energy Board of Directors' continued focus on a comprehensive succession planning process to support the company's long-term growth, CenterPoint Energy, Inc. (NYSE: CNP) today announced leadership promotions and appointments that will further strengthen its existing management capabilities.

Key Points: 
  • HOUSTON, Dec. 13, 2021 /PRNewswire/ --In conjunction with the CenterPoint Energy Board of Directors' continued focus on a comprehensive succession planning process to support the company's long-term growth, CenterPoint Energy, Inc. (NYSE: CNP) today announced leadership promotions and appointments that will further strengthen its existing management capabilities.
  • "I am proud that CenterPoint Energy continues to have a strong team of committed and experienced utility professionals at its helm.
  • These leadership promotions and appointments highlight our focus on succession planning as we execute on our long-term growth strategy," said Martin Nesbitt, Board Chair.
  • The following promotions and appointments to CenterPoint Energy's Executive Committee, which is responsible for the company's strategic direction, planning and execution, are effective on January 1, 2022.

CenterPoint Energy Begins Exit of Midstream Following Energy Transfer’s Completed Acquisition of Enable Midstream Partners

Retrieved on: 
Thursday, December 2, 2021

CenterPoint Energy, Inc. (NYSE: CNP) today announced it is taking steps to reduce the companys midstream exposure following the completion of Enable Midstream Partners, LPs (NYSE: ENBL) merger with Energy Transfer LP (NYSE: ET).

Key Points: 
  • CenterPoint Energy, Inc. (NYSE: CNP) today announced it is taking steps to reduce the companys midstream exposure following the completion of Enable Midstream Partners, LPs (NYSE: ENBL) merger with Energy Transfer LP (NYSE: ET).
  • With the completion of this transaction, CenterPoint and OGE Energy Corp. have terminated various agreements related to Enable.
  • As I shared during our 2021 Analyst Day, we are targeting a full elimination of our midstream exposure by the end of 2022.
  • With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

CenterPoint Energy Foundation announces $1 million in environmental contributions

Retrieved on: 
Thursday, September 23, 2021

"In 2020, we promised our stakeholders we would execute on strategies that would transform CenterPoint Energy into a leading utility company," said Dave Lesar, President and Chief Executive Officer of CenterPoint Energy.

Key Points: 
  • "In 2020, we promised our stakeholders we would execute on strategies that would transform CenterPoint Energy into a leading utility company," said Dave Lesar, President and Chief Executive Officer of CenterPoint Energy.
  • Lesar added, "The CenterPoint Energy Foundation is dedicated to preserving our environment and encouraging our communities to engage in sustainable practices.
  • The CenterPoint Energy Foundation is committed to conservation and environmental education as a component of our funding priorities.
  • The CenterPoint Energy Foundation is a charitable giving organization focused on strengthening the quality of life in the communities served by the company.