CenterPoint Energy Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CenterPoint Energy Inc. has filed its Q1 2024 10-Q report, detailing financial information for its electric and natural gas operations.</b>

AI Summary

CENTERPOINT ENERGY INC (CNP) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. CenterPoint Energy Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data for CenterPoint Energy Houston Electric LLC and CenterPoint Energy Resources Corp. The company's primary business address is 1111 Louisiana St., Houston, TX. CenterPoint Energy Inc. was formerly known as Reliant Energy Inc. The filing references various financial statement line items and disclosures.

Why It Matters

For investors and stakeholders tracking CENTERPOINT ENERGY INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational data for CenterPoint Energy and its subsidiaries. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: medium — CENTERPOINT ENERGY INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and disclosures, but lacks specific financial performance data in the provided text to assess significant positive or negative trends.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to form an investment thesis.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-04-30 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Reporting period)

Key Players & Entities

• CENTERPOINT ENERGY INC (company) — Filer
• CENTERPOINT ENERGY HOUSTON ELECTRIC LLC (company) — Filer
• CENTERPOINT ENERGY RESOURCES CORP (company) — Filer
• RELIANT ENERGY INC (company) — Former company name
• HOUSTON INDUSTRIES INC (company) — Former company name
• HOUSTON LIGHTING & POWER CO (company) — Former company name
• 1111 LOUISIANA ST. (location) — Business address
• 77002 (location) — ZIP code

FAQ

Industry Context

CenterPoint Energy operates as a utility company, providing electric and natural gas services. The energy utility sector is subject to regulatory oversight and market fluctuations.

Regulatory Implications

Utility companies like CenterPoint Energy are regulated by state and federal agencies, impacting their operations, pricing, and capital expenditures.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and net income.
2. Review the Management's Discussion and Analysis section for insights into operational performance and strategic initiatives.
3. Examine the risk factors section for potential challenges and uncertainties facing the company.

Year-Over-Year Comparison

This is a 10-Q filing for the first quarter of 2024. Previous filings would include the 10-K annual report and prior 10-Q reports for the preceding quarters.

Key Financial Figures

• $0.01 — CenterPoint Energy, Inc. Common Stock, $0.01 par value CNP The New York Stock Exchan
• $1,000 — share, with a liquidation preference of $1,000 per share SIGECO Southern Indiana Gas

Filing Documents

• cnp-20240331.htm (10-Q) — 3023KB
• exhibit46-officerscertific.htm (EX-4.6) — 98KB
• exhibit101thirdamendmentch.htm (EX-10.1) — 9KB
• exhibit102-esgterminationa.htm (EX-10.2) — 11KB
• cnp_exhibit3111x3312024.htm (EX-31.11) — 11KB
• cehe_exhibit3112x3312024.htm (EX-31.12) — 11KB
• cerc_exhibit3113x3312024.htm (EX-31.13) — 10KB
• cnp_exhibit3121x3312024.htm (EX-31.21) — 11KB
• cehe_exhibit3122x3312024.htm (EX-31.22) — 11KB
• cerc_exhibit3123x3312024.htm (EX-31.23) — 10KB
• cnp_exhibit3211x3312024.htm (EX-32.11) — 6KB
• cehe_exhibit3212x3312024.htm (EX-32.12) — 6KB
• cerc_exhibit3213x3312024.htm (EX-32.13) — 5KB
• cnp_exhibit3221x3312024.htm (EX-32.21) — 5KB
• cehe_exhibit3222x3312024.htm (EX-32.22) — 6KB
• cerc_exhibit3223x3312024.htm (EX-32.23) — 5KB
• 0001130310-24-000066.txt (&nbsp;) — 15241KB
• cnp-20240331.xsd (EX-101.SCH) — 91KB
• cnp-20240331_cal.xml (EX-101.CAL) — 111KB
• cnp-20240331_def.xml (EX-101.DEF) — 645KB
• cnp-20240331_lab.xml (EX-101.LAB) — 947KB
• cnp-20240331_pre.xml (EX-101.PRE) — 866KB
• cnp-20240331_htm.xml (XML) — 2580KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 CenterPoint Energy, Inc. Financial Statements (Unaudited) 1 CenterPoint Energy Houston Electric, LLC Financial Statements (Unaudited) 7 CenterPoint Energy Resources Corp. Financial Statements (Unaudited) 12 Combined Notes to Interim Condensed Financial Statements (Unaudited) 18 (1) Background and Basis of Presentation 18 (2) New Accounting Pronouncements 19 (3) Held for Sale and Divestitures 19 (4) Revenue Recognition and Allowance for Credit Losses 21 (5) Employee Benefit Plans 24 (6) Regulatory Matters 25 (7) Derivative Instruments 27 (8) Fair Value Measurements 29 (9) Goodwill 31 (10) Equity Securities and Indexed Debt Securities (ZENS) 32 (11) Short-term Borrowings and Long-term Debt 33 (12) Income Taxes 35 (13) Commitments and Contingencies 35 (14) Earnings Per Share 41 (15) Reportable Segments 42 (16) Supplemental Disclosure of Cash Flow and Balance Sheet Information 43 (17) Related Party Transactions 44 (18) Equity 45 (19) Leases 46 (20) Subsequent Events 49

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 50 Recent Events 50 Consolidated Results of Operations 51 Results of Operations by Reportable Segment 52 Certain Factors Affecting Future Earnings 59 Liquidity and Capital Resources 60

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 75

Controls and Procedures

Item 4. Controls and Procedures 76

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 77

Risk Factors

Item 1A. Risk Factors 77

Other Information

Item 5. Other Information 77

Exhibits

Item 6. Exhibits 77

Signatures

Signatures 81 i GLOSSARY ACE Affordable Clean Energy AFUDC Allowance for funds used during construction ALJ Administrative Law Judge AMA Asset Management Agreement Arevon Arevon Energy, Inc., which was formed through the combination of Capital Dynamics, Inc.'s U.S. Clean Energy Infrastructure business unit and Arevon Asset Management ARO Asset retirement obligation ARP Alternative revenue program ASC Accounting Standards Codification ASU Accounting Standards Update AT&T Common AT&T Inc. common stock ATM Forward Purchasers Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Goldman Sachs & Co. LLC, JPMorgan Chase Bank, National Association, Mizuho Markets Americas LLC, MUFG Securities EMEA plc and Royal Bank of Canada ATM Forward Sellers BofA Securities, Inc. Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and RBC Capital Markets, LLC ATM Managers BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and RBC Capital Markets, LLC Bcf Billion cubic feet Bond Companies Bond Company IV and Restoration Bond Company, each a wholly-owned, bankruptcy remote entity formed solely for the purpose of purchasing and owning transition or system restoration property through the issuance of Securitization Bonds Bond Company IV CenterPoint Energy Transition Bond Company IV, LLC, a wholly-owned subsidiary of Houston Electric BTA Build Transfer Agreement CAMT Corporate Alternative Minimum Tax CCN Certificate of Convenience and Necessity CCR Coal Combustion Residuals CECA Clean Energy Cost Adjustment CEIP CenterPoint Energy Intrastate Pipelines, LLC, a wholly-owned subsidiary of CERC Corp. CenterPoint Energy CenterPoint Energy, Inc., and its subsidiaries CERC CERC Corp., together with its sub

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS CENTERPOINT ENERGY, INC. AND SUBSIDIARIES CONDENSED STATEMENTS OF CONSOLIDATED INCOME (Unaudited) Three Months Ended March 31, 2024 2023 (in millions, except per share amounts) Revenues: Utility revenues $ 2,607 $ 2,717 Non-utility revenues 13 62 Total 2,620 2,779 Expenses: Utility natural gas, fuel and purchased power 787 1,078 Non-utility cost of revenues, including natural gas 1 40 Operation and maintenance 709 663 Depreciation and amortization 363 319 Taxes other than income taxes 144 138 Total 2,004