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centerpoint energy inc (CNP) Key Developments

CenterPoint Energy, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Affirms Earnings Guidance for 2014

CenterPoint Energy, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $1,807 million against $1,640 million a year ago. Operating income was $233 million against $244 million a year ago. Income before income taxes was $213 million against $229 million a year ago. Net income was $143 million or $0.33 per basic and diluted share against $151 million or $0.35 per basic and diluted share a year ago. Total capital expenditures were $358 million against $329 million a year ago. For the nine months, the company reported total revenues of $6,854 million against $5,922 million a year ago. Operating income was $714 million against $799 million a year ago. Income before income taxes was $676 million against $606 million a year ago. Net income was $435 million or $1.01 per basic and diluted share against $198 million or $0.46 per basic and diluted share a year ago. Total capital expenditures were $987 million against $907 million a year ago. Net cash provided by operating activities was $1,124 million against $1,132 million a year ago. The company affirmed its earnings estimate for 2014 Utility Operations to be in the range of $0.72 to $0.76 per diluted share. The Utility Operations guidance range considers performance to date and 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 does not include other potential impacts, such as the impact of any changes in accounting standards, any impact to earnings 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. The company affirmed its 2014 earnings estimate from Midstream Investments to be in the range of $0.42 to $0.45 per diluted share. In providing guidance, the company takes into account Enable's most recent public forecast, effective tax rates, the amortization of basis difference in Enable and other factors. On a consolidated basis, the company affirmed its earnings estimate for 2014 on a guidance basis to be in the range of $1.14 to $1.21 per diluted share.

CenterPoint Energy Announces Promotions to Three Executives

CenterPoint Energy announced the promotions of three company executives: Kristie Colvin has been named senior vice president and chief accounting officer. She joined the company in 1989 and has served in a variety of financial roles with increasing responsibility. Gary Hayes has been named senior vice president and chief information officer of the newly formed Technology Operations organization. Hayes joined CenterPoint Energy in 2010 and has more than 30 years of utility industry experience. Gregory Knight has been named senior vice president and chief customer officer of a newly created customer-focused organization responsible for developing and executing the company's customer interaction strategy to maximize customer acquisition and retention as well as further enhance the customer service experience. He has more than 20 years of experience in utilities and service industries.

CenterPoint Energy, Inc. Declares Quarterly Cash Dividend, Payable on Dec. 10, 2014

CenterPoint Energy, Inc.'s. board of directors declared a regular quarterly cash dividend of $0.2375 per share of common stock payable on Dec. 10, 2014, to shareholders of record as of the close of business on Nov. 14, 2014.

CenterPoint Energy, Inc., Q3 2014 Earnings Call, Nov 05, 2014

CenterPoint Energy, Inc., Q3 2014 Earnings Call, Nov 05, 2014

Berkshire Hathaway Reportedly Among Others To Bid For Oncor

Berkshire Hathaway Inc. (NYSE:BRK.A) is among the companies exploring bids to purchase Oncor Electric Delivery Company LLC, reported Bloomberg. Berkshire Hathaway joins CenterPoint Energy, Inc. (NYSE:CNP), NextEra Energy, Inc. (NYSE:NEE) and Hunt Consolidated, Inc. as the companies that have signed confidentiality agreements to bid on Oncor while its parent, Energy Future Holdings Corp., is in bankruptcy reorganization, according to Bloomberg, which cited anonymous sources close to the matter.

 

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