CenterPoint Energy (CNP) Q2 2025 earnings summary

Executive summary

• Q2 2025 net income was $198 million, or $0.30 per diluted share (GAAP), and $0.29 per diluted share (non-GAAP), down from $0.36 per share in Q2 2024.

• 2025 and 10-year capital investment plan increased by $500 million this quarter, totaling $53 billion through 2030, with Texas growth and asset recycling as key focuses.

• Reaffirmed 2025 non-GAAP EPS guidance of $1.74–$1.76, targeting 8% growth at midpoint over 2024.

• Announced and/or completed sale of Ohio, Louisiana, and Mississippi natural gas LDC businesses to optimize portfolio and recycle capital.

• Achieved all Phase II commitments of the Greater Houston Resiliency Initiative ahead of schedule, reducing outage minutes by nearly 50% in H1 2025.

Financial highlights

• Q2 2025 non-GAAP EPS was $0.29, down from $0.36 in Q2 2024, reflecting higher O&M, interest, and depreciation expenses, and timing of capital recovery.

• Six months ended June 30, 2025: net income of $495 million ($0.76 GAAP EPS), non-GAAP income of $532 million ($0.81 EPS), both down year-over-year.

• Q2 2025 revenues were $1.94 billion, nearly flat year-over-year; six-month revenues were $4.86 billion, up from $4.53 billion.

• Trailing twelve months FFO/Debt reached 14.1% (Moody’s), in line with long-term targets.

• Capital expenditures for the first half of 2025 totaled $2.17 billion, up from $1.66 billion year-over-year.

Outlook and guidance

• 2025 non-GAAP EPS guidance of $1.74–$1.76 reaffirmed, with long-term non-GAAP EPS growth targeted at mid-to-high end of 6%–8% through 2030.

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

• Plan to fund capital investments through asset recycling, securitization, and $2.75 billion of equity or equity-like proceeds by 2030.

• No incremental common equity needed for announced capital plan increases; equity needs through 2027 de-risked via forward sales.

• Comprehensive 10-year plan refresh to be provided by end of Q3 2025.