HOUSTON - CenterPoint Energy, Inc. (NYSE: NYSE:CNP) delivered stronger-than-expected financial results for the second quarter of 2024, surpassing analyst estimates for both earnings per share (EPS) and revenue.
The company reported an adjusted EPS of $0.36, which was $0.04 higher than the consensus estimate of $0.32. Revenue for the quarter reached $1.91 billion, also exceeding the analyst forecast of $1.88 billion.
The increase in adjusted EPS represents a significant improvement from the $0.28 reported in the same quarter last year. Similarly, revenue saw a notable rise from the previous year's figure, indicating a robust performance by the company despite the challenges posed by Hurricane Beryl.
CenterPoint's President and CEO, Jason Wells, emphasized the company's commitment to enhancing its emergency response capabilities and customer communication following the hurricane.
"We are privileged to serve one of the most dynamic cities in the United States. We understand with that privilege comes the responsibility of supporting and communicating clearly with our customers during emergency events such as Hurricane Beryl," said Wells.
The company's efforts to build a resilient coastal grid and improve customer outcomes are already underway, with plans to launch a new customer-oriented outage tracker by August 1. This initiative is part of a broader strategy to harden its distribution system against future storms and expedite restoration efforts.
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