CenterPoint Energy (CNP) Q1 2025 earnings summary

Executive summary

• Q1 2025 non-GAAP EPS was $0.53, down from $0.55 in Q1 2024; GAAP EPS was $0.45, reflecting a $43M book loss on the sale of Louisiana and Mississippi gas LDCs.

• Reaffirmed 2025 non-GAAP EPS guidance of $1.74–$1.76, targeting 8% growth over 2024 and 6–8% annual growth through 2030.

• Increased 10-year capital investment plan by $1B to $48.5B, driven by robust load growth and grid modernization in Houston Electric territory.

• Completed sale of Louisiana and Mississippi LDCs for ~$1.2B, using proceeds to support capital plan and reduce 2026 equity needs.

• Accelerated grid resiliency investments ahead of hurricane season, including major infrastructure upgrades and Phase II of the Greater Houston Resiliency Initiative.

Financial highlights

• Q1 2025 revenues were $2.92B, up from $2.62B in Q1 2024; operating income was $649M vs. $616M prior year.

• Q1 2025 net income was $297M (GAAP), down from $350M in Q1 2024; non-GAAP net income was $344M.

• Growth in rate recovery contributed $0.03 per share, but was offset by $0.08 per share in higher O&M and financing costs.

• Q1 2025 capital investment was $1.3B; on track for $4.8B in 2025.

• Dividend per share increased to $0.22 from $0.20 year-over-year.

Outlook and guidance

• 2025 non-GAAP EPS guidance of $1.74–$1.76 reaffirmed; long-term non-GAAP EPS growth expected at 6–8% annually through 2030.

• Dividend per share expected to grow in line with earnings.

• Capital Investment Plan increased by $1B to $48.5B through 2030, with further updates expected in Q3.

• May 2024 storm events securitization expected to be approved in Q2 2025.

• Regulatory rate cases pending in Minnesota, Ohio, and Texas, with decisions expected in 2025-2026.