Centerpoint Energy, Inc (holding Co) · NYSE:CNP
Centerpoint Energy, Inc (holding Co) — Q1 2022 Earnings Presentation
18 slides from Centerpoint Energy, Inc (holding Co)'s earnings presentation, May 3, 2022
Slide 1: First Quarter 2022 Investor Update
Establishing a path towards PREMIUM T h r o u g h S u s t a i n a b l e G r o w t h … FIRST QUARTER 2022 INVESTOR UPDATE May 3, 2022
Slide 2: Cautionary Statement and Other Disclaimers
Cautionary Statement and Other Disclaimers 2 This presentation and the oral statements made in connection herewith contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than st
Slide 3: Achieved Premium Value Proposition: Tracking Delivery
Achieved Premium Value Proposition: Tracking Delivery On track for 2022 full-year guidance of $1.36-$1.38 non-GAAP EPS Targeting industry-leading growth of 8% non-GAAP EPS annually through 2024 and mid to high-end of 6%-8% annually through 2030 (1) Current 5-year Capital plan increased to $19.3B (2)
Slide 4: First Quarter 2022 Results; Reaffirmed Full Year 2022 Guidance
4 First Quarter 2022 Results; Reaffirmed Full Year 2022 Guidance Delivered non-GAAP EPS (1) of $0.47 for first quarter; reaffirmed full year guidance range of $1.36 - $1.38 non-GAAP EPS. Anticipate 8% annual non-GAAP EPS growth through 2024 and mid-to-high end of 6-8% annually through 2030 Shifting
Slide 5: Q1 2022 v Q1 2021 Non-GAAP EPS
Utility $0.47 Consolidated $0.47 $0.03 $0.05 $0.02 $0.03 $0.01 Midstream (2) $0.12 Q1 2021 Non-GAAP EPS Q1 2022 Non-GAAP EPS Q1 2022 v Q1 2021 Non-GAAP EPS (1) Primary Drivers Note: Refer to slide 2 for information on forward-looking statements and slide 17 for information on non-GAAP Utility EPS an
Slide 6: Capital Expenditures by Segment
Capital Expenditures by Segment…. FY 1Q FY 5-YR 10-YR 2021 2022 2022E (3) Plan Plan Electric (4) ~$2.2B ~$0.7B ~$2.7B $11.5B $23B+ Natural Gas ~$1.4B ~$0.3B ~$1.6B $7.7B $16B+ Corporate and other ~$40M ~$2M ~$10M $0.1B $0.2B Total Capital Expenditures (4) ~$3.6B ~$1.0B ~$4.3B (was ~$4.0B) ~$19.3B (w
Slide 7: Rate Case Update
Rate Case Update Minnesota Rate Case Settlement: $48.5M Revenue increase 9.39% ROE Subject to MN PUC review; Order expected by end of 2022 $42M Interim rates went into effect 1/1/2022 Indiana IRP Update Electric CPCNs: 400 MW Solar: Approved in October 2021 BTA downsizing from 300 MW
Slide 8: Contacts
Contacts Jackie Richert Vice President Investor Relations and Treasurer Tel. (713) 207 – 9380 jackie.richert@centerpointenergy.com General Contact Tel. (713) 207 – 6500 https://investors.centerpointenergy.com/contact-us 8
Slide 9: Appendix
Appendix 9
Slide 10: ZENS 2.0% Zero-Premium Exchangeable Subordinated Notes
“Gain (loss) on Equity Securities” - the change in the asset market value ZENS reference shares are AT&T Common, Warner Bros. Discovery Common, and Charter Common “Gain (loss) on indexed debt securities” – the derivative (1) change to this liability offsets the asset change ZENS 2.0% Zero-Premium
Slide 11: 2022 Long Term Incentive Program
2022 LONG TERM INCENTIVE PROGRAM 2022 – 2024 Long-Term Incentive Plan 75% Performance Share Units (PSUs) 3-year cliff vesting 35% Based on Total Shareholder Return (TSR) vs. Peer Companies • Threshold award if CNP TSR reaches at least the 25th percentile of TSR peer group • Target award if CNP TSR i
Slide 12: Regulatory Schedule
Regulatory Schedule Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TX (E) IN (E) TX (G) MN (G) (Rate case) N. IN (G) OH (G) S. IN (G) LA (G) MS (G) No rate case until late ’23 / early ‘24 – Two TCOS filings, DCRF filed in April No rate case until late 2023 No rate case until late 2023 IT RT EH RB F
Slide 13: Weather and Throughput Data
Weather and Throughput Data Note: Data as of 3/31/2022 (1) End of period number of metered customers; Natural Gas throughput in Q1 2021 excluding Arkansas and Oklahoma was 246 Bcf, representing a 6% increase year over year. Natural gas metered customers in Q1 2021 excluding Arkansas and Oklahoma was
Slide 14: Divested AR/OK LDC EPS History
Divested AR/OK LDC EPS History 14 Q1 Q2 Q3 Q4 FY 2022 Impact Non-GAAP EPS Impact (0.03) 0.00 0.03 (0.02) ($0.02) • On Analyst Day, we called out $0.02 for the full year impact to earnings • Divesting these assets has no anticipated impact to our 8% non-GAAP EPS growth for 2022 Note: Refer to slide 2
Slide 15: Reconciliation: Income (Loss) and Diluted EPS to non-GAAP
Reconciliation: Income (Loss) and Diluted Earnings (Loss) per share to non-GAAP Income and non-GAAP Diluted EPS used in providing annual earnings guidance Note: Refer to slide 17 for information on non-GAAP measures (1) Quarterly diluted EPS on both a GAAP and non-GAAP basis are based on the weighte
Slide 16: Reconciliation: Income (Loss) and Diluted EPS to non-GAAP
Reconciliation: Income (Loss) and Diluted Earnings (Loss) per share to non-GAAP Income and non-GAAP Diluted EPS used in providing annual earnings guidance Note: Refer to slide 17 for information on non-GAAP measures (1) Quarterly diluted EPS on both a GAAP and non-GAAP basis are based on the weighte
Slide 17: Regulatory Information
Regulatory Information Information Location Electric Estimated 2021 year-end rate base by jurisdiction Authorized ROE and capital structure by jurisdiction Definition of regulatory mechanisms Projected regulatory filing schedule Regulatory Information – Electric Natural Gas Estimated 2021
Slide 18: Additional information: Use of Non-GAAP Financial Measures
Additional information 18 Use of Non-GAAP Financial Measures In this presentation and the oral statements made in connection herewith, CenterPoint Energy presents, based on diluted earnings per share, non-GAAP income, (in 2021) non-GAAP Utility earnings per share (“Utility EPS”) and (in 2022) non-GA