CenterPoint Energy reported GAAP net income of $264 million, or $0.40 per diluted share, for the fourth quarter of 2025, compared with $0.38 per diluted share in the year-ago quarter.

CenterPoint Energy, Inc. (NYSE: CNP) or "CenterPoint" today reported net income of $264 million, or $0.40 per diluted share on a GAAP basis for the fourth quarter of 2025, compared to $0.38 per diluted share in the comparable period of 2024.

Non-GAAP EPS for the fourth quarter of 2025 was $0.45, compared to $0.40 per diluted share in the comparable period of 2024. These strong fourth quarter results were primarily driven by growth and regulatory recovery which contributed $0.12 per share of favorability as compared to the fourth quarter of 2024. In addition, weather and usage were favorable drivers for the fourth quarter of 2025 as compared to the fourth quarter of 2024, contributing $0.01 per share. These drivers were partially offset by an unfavorable variance of $0.02 per share attributable to increased O&M expense and $0.05 per share attributable to increased interest expense over the comparable quarter of 2024.

CenterPoint increased its 10-year capital investment plan by $500 million to now $65.5 billion of planned investment from 2026-2035, reflecting incremental investment for electric transmission.

"I'm proud of how our teams continued to deliver better outcomes for our customers and communities in 2025, including reducing year over year outage times by more than 100 million customer outage minutes in our Houston Electric business. We closed out the year with strong and consistent execution, robust financial results and significant growth opportunities. With these results, we have now delivered industry-leading 9% non-GAAP EPS growth in four of the last five years," said Jason Wells, Chair of the Board, President & CEO of CenterPoint.

"Previously, we shared a projected 50 percent growth of peak electric load in Greater Houston by 2031. Today, we're updating our projections that we will deliver 10 gigawatts of new load by the end of 2029, two full years ahead of our previous forecasts. We are confident in our ability to deliver that growth because of our proven track record of connecting large customers, regardless of sector, to our system. We believe that we can connect industrial, life sciences, and a range of technology customers far faster and far more cost-effectively than other regions as part of our more than $65 billion investment plan. Our speed to power and efficiency are helping attract new jobs and diverse investments to the Greater Houston area while helping us to keep our portion of customer bills essentially flat for our Texas residential customers," concluded Wells.

Earnings Outlook

In addition to presenting its financial results in accordance with GAAP, including presentation of net income or income available to common shareholders (loss) and diluted earnings (loss) per share, CenterPoint provides guidance based on non-GAAP income and non-GAAP diluted earnings per share. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance that excludes or includes amounts that are not normally excluded or included in the most directly comparable GAAP financial measure.

Management evaluates CenterPoint's financial performance in part based on non-GAAP income and non-GAAP diluted earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint's overall financial performance by providing them with an additional meaningful and relevant comparison of current and anticipated future results across periods. The adjustments made in these non-GAAP financial measures exclude items that management believes do not most accurately reflect the company's fundamental business performance. These excluded items are reflected in the reconciliation tables of this news release, where applicable. CenterPoint's non-GAAP income and non-GAAP diluted earnings per share measures should be considered as a supplement to, and not as a substitute for, or superior to, net income and diluted earnings per share, which respectively are the most directly comparable GAAP financial measures. These non-GAAP financial measures also may be different than non-GAAP financial measures used by other companies.

Non-GAAP EPS guidance and non-GAAP EPS

2020 and 2021 non-GAAP Utility EPS included net income from CenterPoint's Electric and Natural Gas segments, as well as after tax Corporate and Other operating income and an allocation of corporate overhead based upon the Utility's relative earnings contribution. Corporate overhead consists primarily of interest expense, preferred stock dividend requirements, and other items directly attributable to the parent along with the associated income taxes.

2020 non-GAAP Utility EPS excluded:

Earnings or losses from the change in value of CenterPoint's 2.0% Zero-Premium Exchangeable Subordinated Notes due 2029 ("ZENS") and related securities;

Certain expenses associated with merger integration;

Midstream Investments segment and associated income from the Enable Midstream Partners, LP preferred units and a corresponding amount of debt in addition to an allocation of associated corporate overhead and impact, including related expenses, associated with the merger between Enable Midstream Partners, LP and Energy Transfer LP;

Cost associated with the early extinguishment of debt; and

Gain and impact, including related expenses, associated with gas local distribution company ("LDC") sales.

2021 non-GAAP Utility EPS excluded:

Earnings or losses from the change in value of ZENS and related securities;

Earnings and losses associated with the ownership and disposal of midstream common and preferred units (including amounts reported in discontinued operations), net gain associated with the consummation of the merger between Enable Midstream Partners, LP and Energy Transfer LP, a corresponding amount of debt related to midstream common and preferred units, and an allocation of associated corporate overhead;

Cost associated with the early extinguishment of debt;

Impacts associated with Arkansas and Oklahoma gas LDC sales; and

Certain impacts associated with other mergers and divestitures.

Beginning in 2022, CenterPoint no longer separated utility and midstream operations and reports on a consolidated non-GAAP EPS basis.

2022 non-GAAP EPS excluded:

Earnings or losses from the change in value of ZENS and related securities;

Gain and impact, including related expenses, associated with Arkansas and Oklahoma gas LDC sales; and

Income and expense related to ownership and disposal of Energy Transfer LP common and Series G preferred units, and a corresponding amount of debt related to the units.

2023, 2024 and 2025 non-GAAP EPS excluded and non-GAAP EPS guidance excludes:

Earnings or losses from the change in value of ZENS and related securities;

Gains, losses and impacts, including related expenses, associated with mergers and divestitures, such as the divestiture of our Louisiana and Mississippi natural gas LDC businesses and the announced sale of our Ohio natural gas LDC business; and

2025 non-GAAP EPS also excluded and non-GAAP EPS guidance also excludes impacts related to temporary emergency electric energy facilities ("TEEEF") once they are no longer part of our rate-regulated business.

In providing non-GAAP EPS guidance and non-GAAP EPS, CenterPoint does not consider the items noted above and other potential impacts such as changes in accounting standards, impairments, or other unusual items, which could have a material impact on GAAP reported results for the applicable guidance period. The non-GAAP EPS guidance ranges also consider assumptions for certain significant variables that may impact earnings, such as customer growth and usage including normal weather, throughput, recovery of capital invested, effective tax rates, financing activities and related interest rates, and regulatory and judicial proceedings. To the extent actual results deviate from these assumptions, the non-GAAP EPS guidance range for any particular year may not be met, or the projected annual non-GAAP EPS growth rate may change. CenterPoint is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share without unreasonable effort because changes in the value of ZENS and related securities, future impairments, and other unusual items are not estimable and are difficult to predict due to various factors outside of management's control.

 

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