Centerpoint Energy (HOU) Q3 2026 Earnings Report

The call was strongly positive. Management reported solid third-quarter and year-to-date execution, raised 2026 guidance, provided 2027 guidance representing 9% midpoint growth, extended the 7% to 9% earnings-growth outlook through 2030 and 2035, and outlined substantial customer-driven investment opportunities. The main challenges were higher financing costs, required equity financing, some withdrawn studied load, project timing and ongoing regulatory-lag considerations, but these were presented alongside mitigating actions and continued confidence in the company's growth and financial position.

CenterPoint raised 2026 non-GAAP EPS guidance to $1.90 to $1.92, representing nearly 9% growth at the midpoint over 2025 results; 2027 non-GAAP EPS guidance is $2.07 to $2.09, representing 9% growth at the midpoint. Management expects non-GAAP EPS growth at the mid- to high end of the 7% to 9% annual range through 2030 and 7% to 9% annually through 2035, enterprise rate base CAGR of more than 14% through 2030, and sustained double-digit rate base growth over the course of the 10-year plan. The 10-year capital investment plan increased from $66.7 billion to $70.7 billion through 2035, with $1.5 billion accelerated into the first 5 years, $4.5 billion of incremental and accelerated investments deployed by the end of 2030, and at least $10 billion of additional investment opportunities through 2035; 2026 capital investment is expected to come in modestly below the $6.8 billion target due solely to project timing. The remaining 10-year equity financing guide increased by $1.6 billion to $4.5 billion, with approximately $4 billion expected to be issued from 2027 through 2030, including $500 million to $700 million of common equity in 2027, while O&M is expected to reduce by 1% to 2% from the prior year.