Centerpoint Energy Inc. Q4 FY2023 results: revenue $2.2 billion, down 19.5% on the year

Centerpoint Energy Inc. (CNP) reported revenue of $2.2 billion for Q4 FY2023, the quarter ended 31 December 2023, down 19.5% on the same quarter a year earlier. Net income was $192 million, up 43.3% on the year, and diluted earnings per share $0.31. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.

Revenue$2.2 billiondown 19.5%

Net income$192 millionup 43.3%

Diluted EPS$0.31

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	2,182	1,860	n/a	n/a
Cost of revenue	1.0	1.0	n/a	n/a
Gross profit	2,181	1,859	n/a	n/a
Gross margin	100.0%	99.9%	n/a
Operating income	321	518	n/a	n/a
Operating margin	14.7%	27.8%	n/a
Pre-tax income	117	350	n/a	n/a
Income tax	-75.0	68.0	n/a	n/a
Effective tax rate	-64.1%	19.4%	n/a
Net income	192	282	n/a	n/a
Net margin	8.8%	15.2%	n/a
Diluted EPS	$0.31	$0.40	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	808	587	n/a	n/a
Capital expenditure	1,078	1,064	n/a	n/a
Free cash flow	-270	-477	n/a	n/a
Free cash flow margin	-12.4%	-25.6%	n/a
Depreciation and amortisation	359	374	n/a	n/a
Dividends paid	126	119	n/a	n/a
Dividend per share	n/a	$0.39	n/a	n/a
Diluted shares, weighted	633m	633m	n/a	n/a
Shares outstanding at period end	631m	631m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Total assets	39,715	39,001	n/a	n/a
Cash and equivalents	90.0	120	n/a	n/a
Receivables	710	767	n/a	n/a
Goodwill	4,160	4,160	n/a	n/a
Long-term debt	17,559	16,838	n/a	n/a
Operating lease liabilities	10.0	11.0	n/a	n/a
Shareholders' equity	9,667	9,585	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026
Revenue	1,875	1,860	2,182	2,620	1,905	1,856	2,262	2,920	1,944	1,988	2,505	2,975
Cost of revenue	57.0	1.0	1.0	1.0	0.0	1.0	1.0	1.0	2.0	1.0	0.0	1.0
Gross profit	1,818	1,859	2,181	2,619	1,905	1,855	2,261	2,919	1,942	1,987	2,505	2,974
Gross margin	97%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Operating income	380	518	321	616	467	424	483	649	417	502	542	658
Operating margin	20%	28%	15%	24%	25%	23%	21%	22%	21%	25%	22%	22%
Interest expense	n/a	n/a	n/a	204	217	195	222	238	195	243	227	279
Pre-tax income	217	350	117	428	261	245	280	378	253	286	330	409
Tax rate	46%	19%	-64%	18%	13%	21%	11%	21%	22%	-2%	20%	23%
Net income	118	282	192	350	228	193	248	297	198	293	264	316
Net margin	6%	15%	9%	13%	12%	10%	11%	10%	10%	15%	11%	11%
Diluted EPS	$0.17	$0.40	$0.31	$0.55	$0.36	$0.30	$0.37	$0.45	$0.30	$0.45	$0.40	$0.48
Operating cash flow	769	587	808	538	576	136	889	410	560	742	774	282
Capital expenditure	1,136	1,064	1,078	845	812	844	2,012	1,038	1,129	1,222	1,481	1,198
Free cash flow	-367	-477	-270	-307	-236	-708	-1,123	-628	-569	-480	-707	-916
Dividends paid	120	119	126	126	128	130	138	143	144	144	143	150
Shares outstanding	631m	631m	631m	633m	642m	652m	652m	653m	653m	653m	653m	654m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 20 February 2024, accession 0001130310-24-000010: the filing on EDGAR. All of Centerpoint Energy Inc.'s filings: EDGAR company page.

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