CenterPoint: 2Q Earnings Snapshot
HOUSTON (AP) _ CenterPoint Energy Inc. (CNP) on Friday reported a second-quarter loss of $75 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 17 cents. Earnings, adjusted for non-recurring costs, came to 30 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The energy delivery company posted revenue of $2.19 billion in the period.
CenterPoint expects full-year earnings in the range of $1.50 to $1.60 per share.
CenterPoint shares have fallen roughly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 6 percent. The stock has dropped slightly in the last 12 months.