Centerpoint Energy Inc - CNP STOCK NEWS

CenterPoint Energy is actively monitoring Hurricane Rafael, currently a Category 3 storm, and implementing emergency preparedness protocols across its Gulf Coast service area. The company has suspended natural gas disconnections in Texas, Louisiana, and Mississippi, and has identified over 13,000 mutual assistance resources for potential emergency response. While forecasts suggest the storm may head toward Mexico, CenterPoint remains prepared for any potential impacts on both electric and natural gas infrastructure. The company has enhanced its staffing plans and is ready to deploy resources for service restoration if needed.

CenterPoint Energy is preparing for potential impacts from Hurricane Rafael, now a Category 3 storm with 115 mph winds, across its Gulf Coast service area. The company has mobilized over 13,000 mutual assistance resources, implemented enhanced staffing plans, and suspended natural gas disconnections in Texas, Louisiana, and Mississippi. While the Greater Houston area is not expected to be heavily impacted, the company is conducting pre-landfall emergency protocols and urging customers to take safety precautions. CenterPoint has enhanced its outage tracking capabilities and is encouraging customers to enroll in Power Alert Service® for updates.

CenterPoint Energy is actively preparing for Tropical Storm Rafael's potential impact across its Gulf Coast service area. The company is monitoring weather updates and coordinating with emergency partners to ensure readiness for service restoration in Louisiana, Mississippi, and Texas. Over 2.25 million natural gas customers have been urged to take safety precautions. The company has mobilized resources and crews for potential storm response, focusing on debris clearing and service restoration. While the Greater Houston area is not expected to be heavily impacted, the company is prepared for potential outages and has implemented various customer communication channels, including Power Alert Service® and an improved Outage Tracker.

CenterPoint Energy is monitoring Tropical Storm Rafael in the Caribbean Sea and activating emergency response plans as the storm is expected to strengthen into a hurricane by midweek. The company has implemented the Greater Houston Resiliency Initiative, completing its first phase with installation of 1,100 fiberglass poles, vegetation trimming along 2,000 miles of power lines, and 300 automation devices. The second phase, to be completed before June 1, 2025, includes installing 25,000 extreme wind-resistant poles, trimming 4,000 miles of power lines, adding 4,500 trip savers, and undergrounding 400+ miles of power lines. These improvements aim to reduce outage minutes by 125 million annually.

CenterPoint Energy (CNP) reported Q3 2024 earnings of $0.30 per diluted share (GAAP) and $0.31 per diluted share (non-GAAP), down from $0.40 in Q3 2023. The decline was primarily due to increased operating expenses of $0.11 per share from the Greater Houston Resiliency Initiative. The company reiterated its 2024 non-GAAP EPS guidance of $1.61-$1.63 and initiated 2025 guidance of $1.74-$1.76, targeting 8% growth. Growth and regulatory recovery contributed $0.09 per share positively, offset by Hurricane Beryl outages ($0.02) and unfavorable weather variances ($0.04).

CenterPoint Energy has appointed Don Daigler as Senior Vice President of Emergency Preparedness and Response, marking a significant step in improving the company's emergency management capabilities following Hurricane Beryl. This appointment fulfills one of over 40 commitments made under the Greater Houston Resiliency Initiative (GHRI) in August. Daigler brings 40+ years of experience in emergency management and national security, including leadership roles at FEMA and in the electric utility industry. The company has completed 41 of 42 GHRI commitments, with the final one scheduled for completion by end-2024.

CenterPoint Energy has released an independent review by PA Consulting Group regarding its Hurricane Beryl response, which includes 77 recommendations for improving storm readiness, response, and communications. The company has already completed or is implementing 51 recommendations through its Greater Houston Resiliency Initiative (GHRI), with 18 completed and 33 in progress. Key completed actions include replacing the outage map, revising communication strategies, and acquiring additional generators. In-progress improvements focus on expanding TripSaver® reclosers installation, increasing composite poles usage, and revising tree trimming cycles. The remaining 26 recommendations are under evaluation for future implementation.

CenterPoint Energy's lineworkers and apprentices competed in the 40th annual International Lineman's Rodeo in Bonner Springs, Kansas. The event attracted over 200 teams from around the world to compete in tasks based on traditional lineman skills. CenterPoint's team placed 6th among investor-owned utilities and 13th overall. Their 2024 Journeyman team also secured 5th place in the Preform Top Tie Replacement event.

The competition included events like the 'hurt man rescue' and pole climb, graded on safety and proficiency. Approximately 227 lineworker teams and 380 apprentices participated from across the United States and Canada. CenterPoint sent three lineworker teams and eight apprentices to represent the company. The company has been participating in this event for over 30 years, highlighting its commitment to skill development and safety in the lineworker trade.

CenterPoint Energy has been providing mutual assistance support to peer utilities on the East Coast following Hurricanes Helene and Milton. At peak, about 350 CenterPoint leadership, frontline workers, and contractors were deployed to Florida, Georgia, and the Carolinas, helping restore power to thousands of residents. While most frontline workers are returning home, some Houston electric operations leadership will remain in Florida to support ongoing restoration efforts.

The company remains prepared for any operational needs in its Houston and Evansville service territories during the 2024 hurricane season. CenterPoint is also implementing its Greater Houston Resiliency Initiative, which includes installing stronger fiberglass poles, trimming vegetation, and adding automation devices. The company plans further system hardening, strategic undergrounding, and self-healing grid technology enhancements.