CenterPoint Energy Files Q3 2024 10-Q

Ticker: CNP · Form: 10-Q · Filed: 2024-10-28T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, earnings, utility, financials

Related Tickers: CNP

TL;DR

CNP's Q3 10-Q is in. Get the latest on financials and ops.

AI Summary

CenterPoint Energy Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operational updates. Key financial figures and strategic initiatives are presented, reflecting the company's ongoing operations in the energy sector.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for CenterPoint Energy, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a utility company, CenterPoint Energy is subject to regulatory changes, operational risks, and market fluctuations that can impact its financial performance.

Key Numbers

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The reporting period for this 10-Q filing is the quarter ending September 30, 2024.

What is the primary business of CenterPoint Energy Inc. according to the SIC code?

According to the Standard Industrial Classification (SIC) code, CenterPoint Energy Inc. is primarily involved in Electric Services [4911].

When was this 10-Q form filed with the SEC?

This 10-Q form was filed on October 28, 2024.

What are some of the former names of CenterPoint Energy's subsidiaries?

Subsidiaries like CenterPoint Energy Houston Electric LLC were formerly known as Reliant Energy Inc. and Houston Industries Inc., among others.

What is the state of incorporation for CenterPoint Energy Inc.?

CenterPoint Energy Inc. is incorporated in Texas (TX).

Filing Stats: 4,219 words · 17 min read · ~14 pages · Grade level 20 · Accepted 2024-10-28 06:08:37

Key Financial Figures

Filing Documents

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 28 (8) Fair Value Measurements 31 (9) Goodwill 33 (10) Equity Securities and Indexed Debt Securities (ZENS) 34 (11) Short-term Borrowings and Long-term Debt 34 (12) Income Taxes 38 (13) Commitments and Contingencies 39 (14) Earnings Per Share 45 (15) Reportable Segments 46 (16) Supplemental Disclosure of Cash Flow and Balance Sheet Information 48 (17) Related Party Transactions 48 (18) Equity 50 (19) Leases 51

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 55 Recent Events 55 Consolidated Results of Operations 57 Results of Operations by Reportable Segment 58 Certain Factors Affecting Future Earnings 66 Liquidity and Capital Resources 67

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 84

Controls and Procedures

Item 4. Controls and Procedures 85

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 86

Risk Factors

Item 1A. Risk Factors 86

Other Information

Item 5. Other Information 87

Exhibits

Item 6. Exhibits 87

Signatures

Signatures 90 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 CEOH Vectren Energy Delivery of Ohio,

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