This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CenterPoint Energy's CEO Discusses Q4 2011 Results - Earnings Call Transcript

I will however, summarize the performance of each unit and describe their prospects for 2012 and beyond. Houston Electric had its best year financially. Core operating income was $496 million compared to $427 million in 2010. Fourth quarter income was $62 million, up $6 million from 2010. Last summer's record heat was the biggest driver of Houston Electric's increased income.

In addition, we saw strong growth in Houston with over 45,000 new customers added last year. Our gas LDCs also had a good year. Operating income for the full year was $226 million or about $5 million below the record level of 2010. Fourth quarter income was $73 million compared to $86 million in 2010. While margin growth was modest last year, we were successful in our expense management efforts. As a result, on an overall basis, we earned at or near our authorized rate of return for the second consecutive year.

Our Interstate Pipelines achieved operating income of $248 million last year down from the $270 million in 2010. Income in the fourth quarter was $52 million compared to $63 million in the previous year. The decline in earnings for the full year and fourth quarter were almost completely attributable to the exploration of a backhaul contract on our Carthage to Perryville line.

Our Field Services unit had a very strong year. As a result of the investments we've made to gather and treat gas in several developing shale plays. Full year operating income was $189 million, compared to $151 million the previous year. Fourth quarter earnings were $53 million compared to $57 million in the fourth quarter of 2010. It is worth noting that operating income for 2010 reflected a gain of $21 million from the sale of some nonstrategic assets. Excluding that onetime gain, last year's fourth quarter earnings were up over 45% from 2010.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $117.48 7.90%
GOOG $691.20 -2.10%
TSLA $247.54 -1.60%
YHOO $36.58 -1.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs