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.

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

• Increased 10-year capital investment plan by $5.5 billion in 2025, now totaling $53 billion through 2030, with a $500 million increase announced in Q2.

• Announced sale of Ohio Gas LDC and completed sale of Louisiana and Mississippi natural gas businesses to recycle proceeds into Texas growth.

• 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.

• 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.

• Cash flow from operations for the first half of 2025 was $970 million, down from $1.11 billion year-over-year.

Outlook and guidance

• 2025 non-GAAP EPS guidance of $1.74–$1.76 reaffirmed, with sustainable annual EPS and dividend growth targeted at 6–8% through 2030.

• Long-term FFO/Debt target of 14–15% through 2030, maintaining balance sheet health.

• No incremental common equity needed for announced capital plan increases; further capital plan increases possible.

• Guidance excludes impacts from ZENS, mergers/divestitures, and TEEEF units once removed from rate base.

• Final order on Ohio gas rate case expected in Q1 2026; PUCT decision on Houston Electric's $3.18 billion SRP settlement expected in Q3 2025.