CenterPoint Energy Anticipates Strong Earnings Growth Ahead of Q3 Report

CenterPoint Energy, a leading energy delivery company, is poised for a significant earnings announcement on October 28, 2024, for the quarter ending in September. Analysts are optimistic about the company’s earnings potential, with a Zacks Consensus Estimate indicating a year-over-year increase of 12.5% in earnings per share (EPS) to $0.40 per share.

The company’s revenue is also expected to rise by 4% compared to the same quarter last year, reaching $1.93 billion. This positive outlook is further reinforced by the recent upward revision of the consensus EPS forecast by 1.33% over the past 30 days, reflecting analysts’ growing confidence in CenterPoint Energy’s financial performance.

CenterPoint Energy has a history of surpassing consensus estimates, having done so in three out of the last four quarters. In the most recent quarter, the company reported an EPS of $0.36, exceeding the anticipated $0.33 per share by 9.09%.

Despite the positive Earnings ESP of +5.62%, the stock currently holds a Zacks Rank of #4, which complicates the prediction of an earnings beat. Investors are advised to consider multiple factors, including the company’s earnings surprise history and management’s commentary during the earnings call, to gauge the sustainability of any immediate price fluctuations and future earnings forecasts.

In terms of market value, CenterPoint Energy’s market capitalization stands at approximately $19.62 billion as of October 2024, ranking it as the world’s 1005th most valuable company by market cap.