CenterPoint Energy Provides Natural Gas Safety Tips to Help Keep Customers Safe in Severe Weather
2017-07-17T05:00:00Z

MINNEAPOLIS – July 17, 2017 – While summer conditions are here for Minnesotans, the threat of severe weather can occur at a moment's notice. To help keep customers safe, CenterPoint Energy is sharing its natural gas safety tips. CenterPoint Energy customers should remember the following important information in the event of severe weather conditions:

  • Following a severe storm, be alert for leaking natural gas. If you smell, hear or see a natural gas leak, leave the area immediately on foot and tell others to do the same. Natural gas smells like rotten eggs;
  • Do not drive into or near a natural gas leak or a vapor cloud;
  • Once safely away from the area, call 911 immediately. Then call the pipeline operator to report the location and a description of the leak. CenterPoint Energy's emergency natural gas leak hotline is 1-800-296-9815. After receiving a call, CenterPoint Energy will promptly dispatch a trained service technician;  
  • If natural gas is leaking, do not switch lights on or off, smoke, strike a match, use a cell phone, drive a car, or operate anything that may cause a spark, including a flashlight or generator;
  • Do not attempt to turn off your natural gas service at the meter. Meters maintain proper line pressure and prevent water from entering pipes if flooding occurs. Improper operation of natural gas valves could make the situation worse;
  • To turn off natural gas service inside your house, turn the natural gas valve off at each appliance;
  • If your home was flooded, call a licensed plumber or natural gas appliance technician to inspect your appliances and natural gas piping to make sure they are in good operating condition before calling CenterPoint Energy to reconnect service. This includes outdoor natural gas appliances, such as pool heaters, natural gas grills and natural gas lights; and
  • Before cleaning up debris, or possibly excavating near underground natural gas lines and other utility lines, call 811 – the national Call Before You Dig number – to ensure underground utilities are properly located and marked.

 

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns 54.1 percent of the common and subordinated units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. In Minnesota, CenterPoint Energy is the state's largest natural gas distribution utility, serving about 840,000 customers in 260 communities. The utility also operates a non-regulated business in Minnesota called Home Service Plus®. For more information, visit CenterPointEnergy.com.

 

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CenterPoint Energy, Inc. announces closing of $1.2 billion offering of senior notes

HOUSTON, Aug. 15, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) today announced the closing on August 14, 2019 of its offering and sale of $1.2 billion of senior notes comprised of $500 million aggregate principal amount of 2.50% senior notes due 2024, $400 million aggregate principal amount of 2.95% senior notes due 2030 and $300 million aggregate principal amount of 3.70% senior notes due 2049. The net proceeds from the offering will be used for general corporate purposes, including the repayment of a portion of CenterPoint Energy, Inc.'s outstanding commercial paper that was issued, in part, to (i) refinance commercial paper to fund a portion of the cash consideration paid for all of the shares of Vectren Corporation ("Vectren"), (ii) pay merger fees and expenses, (iii) pay a cash dividend to Vectren stockholders as of February 1, 2019 and (iv) fund certain of Vectren's long-term incentive payments.

CenterPoint Energy logo. (PRNewsFoto)

BofA Merrill Lynch, Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley and Wells Fargo Securities served as representatives and joint bookrunners. Additional joint book-running managers were Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, MUFG and RBC Capital Markets. BB&T Capital Markets, BNP PARIBAS, Fifth Third Securities and Huntington Capital Markets served as senior co-managers. Loop Capital Markets and R. Seelaus & Co., LLC served as co-managers. 

This news release does not constitute an offer to sell, or the solicitation of any offer to buy, any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding the use of proceeds from the offering and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include, but are not limited to, factors discussed in CenterPoint Energy, Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, CenterPoint Energy, Inc.'s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2019 and June 30, 2019 and CenterPoint Energy, Inc.'s other filings with the Securities and Exchange Commission.

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy, Inc.'s competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and approximately $34 billion in assets, CenterPoint Energy, Inc. and its predecessor companies have been in business for more than 150 years.

For more information contact
Media:
Alicia Dixon

Phone 713.207.5885
Investors:
Dave Mordy

Phone 713.207.6500

SOURCE CenterPoint Energy, Inc.

August 11 (8/11) serves as a reminder to always call 811 before digging

Houston – Aug. 9, 2019 – Sunday’s date of 8/11 is a reminder for everyone to call the national “Call Before You Dig” number – 811 – prior to any digging project. One free call to 811 before digging can prevent injuries, property damage, service disruption and possible costly fines for damaged infrastructure.

“On this day and throughout the year, we continue to remind homeowners and professional contractors alike to call 811 before digging to eliminate the risk of striking an underground utility line,” Ashley Babcock, director of Damage Prevention and Public Awareness for CenterPoint Energy. “The cause of many underground utility damages is not digging properly. The only physical way to know what’s below is to call and have the buried utilities in your area of excavation marked. Not only is it a free call and service, it is also the law.”

By calling 811, a homeowner connects to a One Call Center, which then notifies the appropriate utility companies of the homeowner’s intent to dig. Professional locators are sent to the requested digging site to mark the approximate locations of underground lines with flags and spray paint, enabling the homeowner to dig safely.

The depth of utility lines varies and there may be multiple utility lines in a common area. Whether it is a small project like planting a tree, or a larger one such as hiring a professional to install a lawn irrigation system, smart digging means calling 811 before each job. For more information, visit call811.com.

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy’s competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and approximately $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

CenterPoint Energy reports second quarter 2019 earnings of $0.33 per diluted share; $0.35 earnings per diluted share on a guidance basis, excluding certain impacts associated with the Vectren merger

Houston - August 7, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) today reported income available to common shareholders of $165 million, or $0.33 per diluted share, for the second quarter of 2019, compared with a loss of $75 million, or $0.17 per diluted share for the second quarter of 2018. On a guidance basis, second quarter 2019 earnings were $0.35 per diluted share, excluding certain impacts associated with the Vectren merger (the merger). Second quarter 2018 earnings, on a guidance basis and excluding certain impacts associated with the merger, were $0.30 per diluted share. "We remain confident in our anticipated 2019 full-year results driven by strong performance from our utility operations and a continued focus on cost management," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "Integration efforts continue to progress well, and we're pleased with the strong cash flows from our non-utility businesses. These businesses continue to be a source of cash for utility investment, which promotes growth for and strengthens our utility infrastructure allowing us to serve our customers."

Business Segments

Houston Electric - Transmission & Distribution

The Houston electric - transmission & distribution segment reported operating income of $169 million for the second quarter of 2019, consisting of $160 million from the regulated electric transmission and distribution utility operations (TDU) and $9 million related to securitization bonds. Operating income for the second quarter of 2018 was $181 million, consisting of $167 million from the TDU and $14 million related to securitization bonds. Operating income for the TDU benefited primarily from rate relief, customer growth and lower operation and maintenance expenses. These benefits were more than offset by lower usage primarily due to a return to more normal weather, lower equity return, primarily related to the annual true-up of transition charges, increased depreciation and amortization expense and lower revenues related to the Tax Cuts and Jobs Act (TCJA).

Indiana Electric – Integrated

The Indiana electric – integrated segment reported operating income of $25 million for the second quarter of 2019. These results are not comparable to the second quarter of 2018 as this segment was acquired in the merger.

Natural Gas Distribution

The natural gas distribution segment reported operating income of $47 million for the second quarter of 2019, compared with $7 million for the second quarter of 2018. Operating income increased $19 million due to the gas utilities acquired in the merger. The remaining increase is primarily due to the timing of a decoupling mechanism in Minnesota, rate relief, lower operation and maintenance expenses and customer growth. These increases were partially offset by increased depreciation and amortization expense and lower revenues related to the TCJA.

Energy Services

The energy services segment reported operating income of $29 million for the second quarter of 2019, which included a mark-to-market gain of $30 million, compared with operating income of $15 million for the second quarter of 2018, which included a mark-to-market gain of $8 million. Excluding mark-to-market adjustments, the operating loss was $1 million for the second quarter of 2019 compared with operating income of $7 million for the second quarter of 2018. Operating income, excluding mark-to-market adjustments, decreased primarily due to a reduction in margins resulting from the impact of less price volatility on natural gas storage activity and increased operation and maintenance expenses.

Infrastructure Services

The infrastructure services segment reported operating income of $24 million for the second quarter of 2019. Operating income includes $7 million of merger-related expenses. These results are not comparable to the second quarter of 2018 as this segment was acquired in the merger.

Midstream Investments

The midstream investments segment reported $74 million of equity income for the second quarter of 2019, compared with $58 million in the second quarter of 2018.

Corporate and Other

The corporate and other segment reported an operating loss of $7 million for the second quarter of 2019, compared with an operating loss of $16 million for the second quarter of 2018. The operating loss for the second quarter of 2019 included $32 million of merger-related expenses. The operating loss for the second quarter of 2018 included $27 million of merger-related expenses.

Earnings Outlook
 

  • 2019 guidance basis EPS range of $1.60 - $1.70, excluding certain impacts associated with the merger:
  • Integration and transaction-related fees and expenses, including severance and other costs to achieve the anticipated cost savings as a result of the merger
  • Merger financing impacts in January, prior to the completion of the merger, due to the issuance of debt and equity securities to fund the merger that resulted in higher net interest expense, preferred stock dividend requirements and higher common stock share count
  • 2020 guidance range to be provided on fourth quarter 2019 earnings call following normal annual financial planning process
  • Fundamentals remain strong and company continues to target 5 - 7% compound annual guidance basis EPS growth for 2018-2023, using $1.60 as the starting EPS

The 2019 guidance range considers operations performance to date and assumptions for certain significant variables that may impact earnings, such as customer growth (approximately 2% for electric operations and 1% for natural gas distribution) and usage including normal weather, throughput, commodity prices, recovery of capital invested through rate cases and other rate filings, effective tax rates, financing activities and related interest rates, and regulatory and judicial proceedings as well as the volume of work contracted in our infrastructure services business.  The range also considers anticipated cost savings as a result of the merger.  The range assumes the lower end of Enable Midstream Partners, LP's (Enable) 2019 guidance range for net income attributable to common units, provided on Enable's 2nd quarter earnings call on August 6, 2019.

In providing this guidance, CenterPoint Energy uses a non-GAAP measure of adjusted diluted earnings per share that does not consider other potential impacts, such as changes in accounting standards or unusual items, including those from Enable, earnings or losses from the change in the value of ZENS and related securities, or the timing effects of mark-to-market accounting in the company's Energy Services business, which, along with the certain excluded impacts associated with the merger, could have a material impact on GAAP reported results for the applicable guidance period.  CenterPoint Energy is unable to present a quantitative reconciliation of forward looking adjusted diluted earnings per share because changes in the value of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business are not estimable as they are highly variable and difficult to predict due to various factors outside of management's control.

 

  Quarter Ended ​ ​ ​ ​ ​
  June 30, 2019June 30, 2018
  Dollars
in millions
Diluted EPS Dollars
in millions
Diluted EPS
Consolidated income (loss) available to common shareholders and diluted EPS$165
$0.33
$(75)
$(0.17)
Timing effects impacting CES (1):        
Mark-to-market (gains) losses (net of taxes of $7 and $2) (2)(23)
(0.05)
(6)
(0.01)
ZENS-related mark-to-market (gains) losses:        
Marketable securities (net of taxes of $14 and $4) (2)(3)(50)(0.10)(18)(0.04)
Indexed debt securities (net of taxes of $15 and $54) (2)(4)530.112000.46
Consolidated on a guidance basis$145$0.29$101$0.24
Impacts associated with the Vectren merger:        
Impacts associated with the Vectren merger (net of taxes of $10 and $8) (2)320.06260.06
Consolidated on a guidance basis, excluding impacts associated with the Vectren merger$177$0.35$127$0.30

 
(1)   Energy Services segment

(2)   Taxes are computed based on the impact removing such item would have on tax expense.

(3)   As of and after June 14, 2018, comprised of common stock of AT&T Inc. and Charter Communications, Inc. Prior to June 14, 2018, comprised of common stock of Time Warner, Inc. and Charter Communications, Inc.

(4)   2018 results include amount associated with the acquisition of Time Warner Inc. by AT&T Inc.

 

Filing of Form 10-Q for CenterPoint Energy, Inc.

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the quarter ended June 30, 2019. A copy of that report is available on the company's website, under the Investors section. Other filings the company makes with the SEC and certain documents relating to its corporate governance can also be found under the Investors section.

Webcast of Earnings Conference Call

CenterPoint Energy's management will host an earnings conference call on Wednesday, August 7, 2019, at 10:00 a.m. Central time/11:00 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call on the company's website under the Investors section. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the website for at least one year.

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and approximately $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future earnings, and future financial performance and results of operations, including, but not limited to earnings guidance, targeted dividend growth rate and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.

Risks Related to CenterPoint Energy

Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the performance of Enable Midstream Partners, LP (Enable), the amount of cash distributions CenterPoint Energy receives from Enable, Enable's ability to redeem the Enable Series A Preferred Units in certain circumstances and the value of CenterPoint Energy's interest in Enable, and factors that may have a material impact on such performance, cash distributions and value, including factors such as: (A) competitive conditions in the midstream industry, and actions taken by Enable's customers and competitors, including the extent and timing of the entry of additional competition in the markets served by Enable; (B) the timing and extent of changes in the supply of natural gas and associated commodity prices, particularly prices of natural gas and natural gas liquids (NGLs), the competitive effects of the available pipeline capacity in the regions served by Enable, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable's interstate pipelines; (C) the demand for crude oil, natural gas, NGLs and transportation and storage services; (D) environmental and other governmental regulations, including the availability of drilling permits and the regulation of hydraulic fracturing; (E) recording of goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) changes in tax status; and (G) access to debt and equity capital; (2) CenterPoint Energy's expected benefits of the merger with Vectren Corporation (Vectren) and integration, including the outcome of shareholder litigation filed against Vectren that could reduce anticipated benefits of the merger, as well as the ability to successfully integrate the Vectren businesses and to realize anticipated benefits and commercial opportunities; (3) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the demand for CenterPoint Energy's non-utility products and services and effects of energy efficiency measures and demographic patterns; (4) the outcome of the pending Houston Electric rate case; (5) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (6) future economic conditions in regional and national markets and their effect on sales, prices and costs; (7) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (8) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy's and Enable's businesses, including, among others, energy deregulation or re-regulation, pipeline integrity and safety and changes in regulation and legislation pertaining to trade, health care, finance and actions regarding the rates charged by our regulated businesses; (9) tax legislation, including the effects of the comprehensive tax reform legislation informally referred to as the Tax Cuts and Jobs Act (which includes any potential changes to interest deductibility) and uncertainties involving state commissions' and local municipalities' regulatory requirements and determinations regarding the treatment of excess deferred income taxes and CenterPoint Energy's rates; (10) CenterPoint Energy's ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (11) the timing and extent of changes in commodity prices, particularly natural gas and coal, and the effects of geographic and seasonal commodity price differentials; (12) the ability of CenterPoint Energy's and CERC's non-utility business operating in the Energy Services reportable segment to effectively optimize opportunities related to natural gas price volatility and storage activities, including weather-related impacts; (13) actions by credit rating agencies, including any potential downgrades to credit ratings; (14) changes in interest rates and their impact on CenterPoint Energy's costs of borrowing and the valuation of its pension benefit obligation; (15) problems with regulatory approval, legislative actions, construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or in cost overruns that cannot be recouped in rates; (16) the availability and prices of raw materials and services and changes in labor for current and future construction projects; (17) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change, air emissions, carbon, waste water discharges and the handling and disposal of coal combustion residuals (CCR) that could impact the continued operation, and/or cost recovery of generation plant costs and related assets; (18) the impact of unplanned facility outages or other closures; (19) any direct or indirect effects on CenterPoint Energy's or Enable's facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt CenterPoint Energy's businesses or the businesses of third parties, or other catastrophic events such as fires, ice, earthquakes, explosions, leaks, floods, droughts, hurricanes, tornadoes, pandemic health events or other occurrences; (20) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's investments, including those related to the generation transition plan; (21) CenterPoint Energy's ability to successfully construct and operate electric generating facilities, including complying with applicable environmental standards and the implementation of a well-balanced energy and resource mix, as appropriate; (22) CenterPoint Energy's ability to control operation and maintenance costs; (23) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms and ability to recover claims; (24) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (25) commercial bank and financial market conditions, CenterPoint Energy's access to capital, the cost of such capital, and the results of CenterPoint Energy's financing and refinancing efforts, including availability of funds in the debt capital markets; (26) changes in rates of inflation; (27) inability of various counterparties to meet their obligations to CenterPoint Energy; (28) non-payment for CenterPoint Energy's services due to financial distress of its customers; (29) the extent and effectiveness of CenterPoint Energy's and Enable's risk management and hedging activities, including but not limited to, financial and weather hedges and commodity risk management activities; (30) timely and appropriate regulatory actions, which include actions allowing securitization, for any future hurricanes or natural disasters or other recovery of costs, including costs associated with Hurricane Harvey; (31) CenterPoint Energy's or Enable's potential business strategies and strategic initiatives, including restructurings, joint ventures and acquisitions or dispositions of assets or businesses, which CenterPoint Energy and Enable cannot assure will be completed or will have the anticipated benefits to CenterPoint Energy or Enable; (32) the performance of projects undertaken by CenterPoint Energy's non-utility businesses and the success of efforts to realize value from, invest in and develop new opportunities and other factors affecting those non-utility businesses, including, but not limited to, the level of success in bidding contracts, fluctuations in volume and mix of contracted work, mix of projects received under blanket contracts, failure to properly estimate cost to construct projects or unanticipated cost increases in completion of the contracted work, changes in energy prices that affect demand for construction services and projects and cancellation and/or reductions in the scope of projects by customers and obligations related to warranties and guarantees; (33) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition and divestiture plans; (34) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (35) the outcome of litigation; (36) the ability of retail electric providers (REPs), including REP affiliates of NRG Energy, Inc. and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries; (37) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (38) the timing and outcome of any audits, disputes and other proceedings related to taxes; (39) the effective tax rates; (40) the transition to a replacement for the LIBOR benchmark interest rate; (41) the effect of changes in and application of accounting standards and pronouncements; and (42) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarters ended March 31, 2019 and June 30, 2019 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

Use of Non-GAAP Financial Measures by CenterPoint Energy in Providing Guidance

In addition to presenting its financial results in accordance with generally accepted accounting principles (GAAP), including presentation of income available to common shareholders and diluted earnings per share, CenterPoint Energy also provides guidance based on adjusted income and adjusted diluted earnings per share, which are non-GAAP financial measures. 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. CenterPoint Energy's adjusted income and adjusted diluted earnings per share calculation excludes from income available to common shareholders and diluted earnings per share, respectively, the impact of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business. CenterPoint Energy's guidance for 2019 also does not reflect certain impacts associated with the Vectren merger, which are integration and transaction-related fees and expenses, including severance and other costs to achieve anticipated cost savings as a result of the merger and merger financing impacts in January, prior to the completion of the merger due to the issuance of debt and equity securities to fund the merger that resulted in higher net interest expense, preferred stock dividend requirements and higher common stock share count. CenterPoint Energy is unable to present a quantitative reconciliation of forward-looking adjusted income and adjusted diluted earnings per share because changes in the value of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business are not estimable as they are highly variable and difficult to predict due to various factors outside of management's control. These excluded items, along with the excluded impacts associated with the merger, could have a material impact on GAAP reported results for the applicable guidance period.

Management evaluates the company's financial performance in part based on adjusted income and adjusted diluted earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint Energy'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 does 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 Energy's adjusted income and adjusted diluted earnings per share non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, income available to common shareholders 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.


Natural gas service restoration in Alice, Texas substantially complete

Houston – Aug. 1, 2019 – Following a natural gas outage affecting more than 4,100 customers in Alice, Texas, CenterPoint Energy has restored service to all customers who have provided the company access to perform safety checks and relight pilots.

A small number of customers still remain without service because CenterPoint Energy employees were not able to access their home or business. The relighting process requires CenterPoint Energy employees to have access to each location to light pilots and check to make sure it is safe to resume service. If an adult over age 18 is not at the service address when a technician arrives, the company will leave a blue door hanger with instructions.

"A customer needs to call us only if there is a blue door hanger at their home or business indicating that we have already been there to attempt to restore service," said Nelda Juarez, district director for CenterPoint Energy. "Please call 888-551-4011, the number on the door tag left by our service personnel.

"We greatly appreciate our customers' cooperation, patience and expressions of thanks as our employees worked as quickly as we could to safely restore natural gas service," said Juarez.

Customers have been without natural gas service due to a damaged pipeline that serves this town.

 

CenterPoint Energy declares regular common stock dividend of $0.2875, Series A Preferred Stock dividend of $30.6250 and Series B Preferred Stock dividend of $17.5000

HOUSTON, July 31, 2019 - CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared dividends on shares of its common stock, Series A Perpetual Preferred Stock and Series B Mandatory Convertible Preferred Stock.

CenterPoint Energy logo. (PRNewsFoto)

Common Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $0.2875 per share of common stock payable on September 12, 2019 to shareholders of record as of the close of business on August 15, 2019.

Series A Preferred Stock Dividend

The company's board of directors declared a regular semiannual cash dividend of $30.6250 per share on its Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock payable on September 3, 2019 to shareholders of record as of the close of business on August 15, 2019.

Series B Preferred Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $17.5000 per share on its 7.00% Series B Mandatory Convertible Preferred Stock payable on September 3, 2019 to shareholders of record as of the close of business on August 15, 2019. This equates to $0.8750 per depositary share (NYSE: CNPPRB), each of which represents a 1/20th interest in a share of the Series B Mandatory Convertible Preferred Stock.

Headquartered in Houston, Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets.

With approximately 14,000 employees and nearly $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.

For more information contact
Media: 
Alicia Dixon
Phone      713.207.5885
Investors:
Dave Mordy
Phone      713.207.6500

SOURCE CenterPoint Energy, Inc.