logo
Plus   Neg
Share
Email

CenterPoint Energy Lifts FY17 Earnings View Due To Tax Cuts And Jobs Act

CenterPoint Energy, Inc. (CNP), a domestic energy delivery, Thursday announced that it now expects fiscal 2017 earnings are expected to exceed the previous outlook as a result of Tax Cuts and Jobs Act.

In a statement, the company said its expected earnings on a guidance basis for 2017 will incorporate a re-measurement of deferred tax liabilities and a credit to income tax expense.

As a result, earnings are expected to exceed the previously provided $1.25 to $1.33 guidance range. Absent these adjustments, earnings are anticipated to be at or near the high end of the $1.25 to $1.33 range.

On average, 14 analysts polled by Thomson Reuters expect earnings of $1.33 per share for the year. Analysts' estimates typically exclude special items.

CenterPoint Energy said its management will host an earnings call on February 22, with plans to discuss 2017 earnings results, 2018 earnings guidance, long-term growth drivers, and the impact of the Tax Cuts and Jobs Act.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
DuPont (DD) announced Monday that it has agreed to acquire Laird Performance Materials from with private equity firm Advent International for $2.3 billion. The company will use existing cash balances for the acquisition. The transaction is expected to close in the third quarter of 2021, subject to regulatory... Hu Products has recalled a single production lot of the Hu Chocolate Covered Hunks - Sour Goldenberries Product citing the possible presence of undeclared almonds, an allergen, the U.S. Food and Drug Administration said. The recall involves 4 oz. bags of the Hu Chocolate Covered Hunks - Sour Goldenberries with UPC code of 850180006510, Best By Date of 08/2021, and Lot Code of 202891. Polaris Industries Inc. recalled about 15,800 units of Off-Road and Utility Vehicles in North America for possible crash hazard, according to a statement issued by the U.S. Consumer Product Safety Commission. There were also an additional 711 units sold in Canada.
RELATED NEWS
Follow RTT