The company said outages in Houston Electric's service territory from the May 2024 Storm Events and Hurricane Beryl peaked at an estimated 922,000 customers and an estimated 2.26 million customers, respectively. It estimated restoration costs of $425 million to $475 million and $1.2 billion to $1.3 billion, respectively.

1. 01

   The company said outages in Houston Electric's service territory from the May 2024 Storm Events and Hurricane Beryl peaked at an estimated 922,000 customers and an estimated 2.26 million customers, respectively. It estimated restoration costs of $425 million to $475 million and $1.2 billion to $1.3 billion, respectively.

2. 02

   The company said it expects to recover restoration costs through non-recourse securitization bonds for distribution-related costs and the TCOS capital mechanism for transmission-related costs, but the amount and timing are not certain. It also said there are significant uncertainties around the Hurricane Beryl inquiries, including whether financial penalties will be assessed.

3. 03

   The company said income available to common shareholders for the 3 months ended June 30, 2024 rose $122 million from a year earlier. It cited increases in the Electric segment ($35 million), the Natural Gas segment ($12 million) and Corporate and Other ($75 million). On a 6-month basis, the increase was $159 million.

4. 04

   CenterPoint Energy said it entered into the LAMS Asset Purchase Agreement on February 19, 2024 through its subsidiary CERC Corp. to sell its Louisiana and Mississippi natural gas LDC businesses. It said the transaction is expected to close in Q1 2025.

Key figures

Quarter ended June 30, 2024

Revenue

$1.9B

Operating income

$467M

Net income

$228M

EPS

$0.36

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.