(Reuters) – CenterPoint Energy Inc beat first-quarter profit expectations on Thursday, as lower operating and maintenance costs outweighed the impact of high interest expenses and mild winter.
The electric and gas utility company’s adjusted net income for the quarter ended March 31 was 50 cents per share, beating analysts’ average estimate of 47 cents per share, according to Refinitiv data.
The company, which serves more than seven million metered users in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas, also saw a rise in the number of customers compared to the prior-year quarter amid residential and industrial growth in certain regions.
CenterPoint affirmed its full-year adjusted profit outlook in the range of $1.48 to $1.50 per share. It reiterated 8% growth forecast for adjusted per share profit for 2024.
Peer Entergy Corp reported a lower-than-expected profit for the first quarter on Wednesday on unfavorable weather and rising costs. NextEra Energy, however, said on Tuesday that it benefited from its clean energy investment push.
(Reporting by Saikeerthi in Bengaluru; Editing by Shilpi Majumdar)
