CenterPoint Energy (CNP) Q4 2025 earnings summary

Executive summary

• Achieved 9% non-GAAP EPS growth for 2025, marking industry-leading performance in four of the last five years, with full year non-GAAP EPS at $1.76 and Q4 at $0.45.

• Dividend per share grew 9% year-over-year in 2025, with future growth moderated to 6% annually.

• Accelerated Houston Electric's peak load forecast by two years, now projecting a 50% increase by 2029, driven by advanced manufacturing and data center demand.

• Reduced outage times by over 100 million customer minutes and achieved a 50% reduction in vegetation-related outages compared to FY 2024.

• Increased 10-year capital investment plan to $65.5 billion, with at least $10 billion in incremental opportunities.

Financial highlights

• FY 2025 non-GAAP EPS was $1.76, up from $1.62 in FY 2024; Q4 non-GAAP EPS was $0.45, up from $0.40 in Q4 2024.

• FY 2025 GAAP EPS was $1.60, including $0.11 from goodwill disposition and $0.07 from depreciation on temporary generation units.

• Q4 2025 net income was $264 million; FY 2025 net income was $1,052 million.

• Growth, rate recovery, and weather/usage were favorable EPS drivers, partially offset by higher O&M and interest expenses.

• Invested $5.4 billion in 2025, exceeding the revised plan of $5.3 billion.

Outlook and guidance

• Reaffirmed 2026 non-GAAP EPS guidance of $1.89–$1.91, representing 8% growth at the midpoint over 2025.

• Targeting 7–9% annual non-GAAP EPS growth through 2035, with mid-to-high end delivery expected for 2026–2028.

• Capital plan for 2026 set at $6.8 billion, focused on electric and gas infrastructure, resiliency, and modernization.

• Anticipates keeping customer rates flat through 2028 by spreading fixed costs over a larger base.

• 1–2% annual O&M reductions targeted through 2035.