CenterPoint Energy reported income available to common shareholders of $248 million, or $0.38 per diluted share on a GAAP basis, for the fourth quarter of 2024. Non-GAAP EPS for Q4 2024 was $0.40 per diluted share, a 25% increase compared to $0.32 in Q4 2023, meeting Wall Street expectations.
For the full year 2024, GAAP EPS was $1.58 and non-GAAP EPS was $1.62, compared to $1.37 and $1.50 respectively in 2023. These results were primarily driven by growth, regulatory recovery, and lower operating and maintenance expenses, partially offset by increased interest expense.
The company forecasts nearly 50% electric load growth in its Houston Electric service territory by 2031, from approximately 21 gigawatts (GW) in 2024 to nearly 31 GW. This unprecedented growth is driven by diverse economic factors, including data centers, port and fleet electrification, and medical complex expansion.
In response to this demand, CenterPoint increased its 10-year capital investment plan by $5.5 billion this year, now totaling $53 billion through 2030, with further upside anticipated. The company reaffirmed its 2025 non-GAAP EPS guidance range of $1.74 to $1.76, targeting 8% growth at the midpoint from 2024.
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