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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.

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