CenterPoint Energy (NYSE: CNP) continued its recovery from a disastrous 2020, reporting strong year-end and fourth-quarter earnings on Tuesday.

The Houston-based utility last year earned $1.39 billion ($2.28/diluted share), compared with a loss of $949 million (-$1.79/diluted share) a year earlier.

Fourth-quarter earnings were $641 million ($1.01/diluted share), up sharply from $151 million ($0.27/diluted share) for the same period of 2020.

Earnings adjusted for non-recurring gains came in at $0.36/share, exceeding Zacks Investment Research’s consensus estimate of $0.31/share.

“2021 was a great year for CenterPoint with quarter after quarter of meeting or exceeding expectations,” CEO Dave Lesar said in a statement. “We have had seven quarters of execution … and are continuing to find ways to increase our capital plan over the course of our 10-year plan to benefit our customers and our investors.”

Central to the utility’s plans is the recently announced regional master energy plan with the city of Houston, labeled Resilient Now. CenterPoint is exploring the use of mobile electric stations that can power 200 to 300 homes while line crews restore damaged facilities and other grid and infrastructure hardening and modernization measures.

Lesar told financial analysts CenterPoint is now enrolling some of Houston’s surrounding communities. “Our focus is, ‘What does the grid need to look like in Houston and surrounding areas, given the fantastic growth we’ve seen in this market?’” he said.

In January, CenterPoint sold gas distribution businesses in Arkansas and Oklahoma for more than $1.6 billion. Future transactions could add to the utility’s ability to complete Resilient Now.

“It’s just a great option to have as we look at our ability to spend more capital here in what is essentially one of the crown jewels of CenterPoint, which is Houston Electric,” Lesar said, referring to the Houston distribution company.

CenterPoint’s share price closed at $26.49 Wednesday, 11 cents off Monday’s pre-earnings close.

Entergy Earnings Down from Year Prior

Entergy (NYSE: ETR) on Wednesday reported fourth-quarter earnings of $259 million ($1.28/share) and year-end earnings of $1.12 billion ($6.02/share) That was down from 2020’s fourth quarter of $388 million ($1.93/share) and the full year of $1.39 billion ($6.90/share).

The company’s results-adjusted non-recurring gains came in at $0.76/share, beating Zack’s consensus estimate of $0.70/share.

“Despite the unique challenges presented in 2021, we continued to deliver on our commitments and exceeded the midpoint of our guidance range,” Entergy CEO Leo Denault said.

The New Orleans-based company set its 2022 EPS guidance at $6.15-$6.45/share.

Entergy’s share price ended the day at $104.74, giving away most of its gains. That was only a 23-cent gain from the day’s previous close.