CenterPoint Energy (CNP) Q4 2024 earnings summary

Executive summary

• Reported non-GAAP EPS of $0.40 for Q4 2024 and $1.62 for the full year, representing 8% growth over 2023 and marking the fourth consecutive year of meeting or exceeding guidance.

• Reaffirmed 2025 non-GAAP EPS guidance of $1.74–$1.76, targeting 8% growth at the midpoint, and long-term annual EPS growth at the mid to high end of 6%–8% through 2030.

• Increased 10-year capital investment plan to $47.5 billion through 2030, with $500 million added for Houston grid resiliency.

• Announced sale of Louisiana and Mississippi LDCs for $1.2B gross, expected to close by Q1 2025, supporting capital plan and balance sheet.

• Focused on balance sheet health, maintaining FFO/Debt at 13.6% for 2024 and targeting 14–15% through 2030.

Financial highlights

• Q4 2024 non-GAAP EPS was $0.40, up from $0.32 in Q4 2023; full-year 2024 non-GAAP EPS reached $1.62, up from $1.50 in 2023.

• 2024 capital expenditures totaled $3.8B–$4.8B, exceeding targets despite storm-related diversions.

• Adjusted FFO to debt ratio was 13.6% at year-end, with expectations to improve following asset sales and securitization proceeds.

• Consolidated liquidity at $4B as of year-end 2024.

• Adjusted results exclude ZENS mark-to-market impacts and merger/divestiture-related items.

Outlook and guidance

• 2025 non-GAAP EPS guidance reaffirmed at $1.74–$1.76, with 8% growth at the midpoint.

• Long-term non-GAAP EPS growth expected at the mid to high end of 6%–8% annually through 2030.

• Dividend growth expected to align with earnings growth.

• Anticipates $3B in asset recycling and securitization proceeds in 2025+ and $2.65B in equity or equity-like proceeds through 2030.

• Residential delivery charges expected to align with inflation; O&M reductions of 1–2% targeted.