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CenterPoint Energy Q4 net income $176 million

Staff writer |
CenterPoint Energy reported net income of $176 million, or $0.41 per diluted share, for the fourth quarter of 2014, which included a tax benefit of $0.07 per diluted share, compared to $113 million, or $0.26 per diluted share the previous year.

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Operating income for the fourth quarter of 2014 was $221 million, compared to $211 million in the prior year. CenterPoint Energy reports its investment in midstream operations as equity income rather than operating income.

Midstream Investments equity income for the fourth quarter of 2014 was $67 million, compared to $66 million in the prior year. For the year ended December 31, 2014, net income was $611 million, or $1.42 per diluted share, including the tax benefit referenced above.

For the year ended December 31, 2013, net income was $311 million, or $0.72 per diluted share. The results for 2013 include two unusual items related to the formation of the midstream partnership: a $225 million non-cash deferred tax charge, and $13 million of pre-tax partnership formation expenses. Excluding the effects of these unusual items, net income for 2013 would have been $544 million, or $1.26 per diluted share.

Operating income for the year ended December 31, 2014, was $935 million. As a result of the May 1, 2013, formation of Enable Midstream Partners, operating income for full year 2014 is not comparable to prior results.


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