Houston-based CenterPoint Energy (CNP) on Friday reported a net loss of $509 million ($-1.18/share) for the fourth quarter of 2015. The loss included a $984 million impairment charge for its Enable Midstream Partners spinoff, a joint venture with OGE Energy and private-equity firm ArcLight Capital Partners.
The transmission and consumer natural gas company reported a net loss of $692 million ($-1.61/share) for the year. It said net income would have been $465 million ($1.08/share) without impairment charges of $1.846 billion, compared to $611 million ($1.42/share) in net income in 2014.
CenterPoint CEO Scott Prochazka told analysts Feb. 26 he expects 2016 earnings in the range of $1.12 to $1.20/ share.
“We expect continued strong financial performance from utility operations in 2016, which is incorporated in our guidance,” he said in a statement.
Shares of CenterPoint stock finished down 61 cents Friday, or 3.19%, closing at $18.53.
— Tom Kleckner
