CenterPoint Lifts 10-Year Capital Plan to $70.7 Billion

The Tip Desk · October 30, 2026 · 3 min read

Non-GAAP earnings were $0.53 a share in the third quarter, and the utility raised 2026 guidance to $1.90-$1.92 a share.

CenterPoint Energy (CNP) raised its 10-year capital investment plan by $4.0 billion to $70.7 billion, accelerated $1.5 billion of that spending into 2026-2030, and lifted 2026 non-GAAP earnings guidance after a third quarter in which growth and rate recovery offset higher financing costs and the absence of a year-ago tax benefit.

The Houston-based utility reported net income of $331 million, or $0.50 a share, on a GAAP basis for the three months ended September 30, 2026, compared with $0.45 a share a year earlier. Non-GAAP EPS was $0.53 a share, versus $0.50 a year earlier.

The company said those results were primarily driven by growth and rate recovery, which contributed $0.09 a share of favorability versus the third quarter of 2025. Weather and usage added $0.03 a share of favorable variance. O&M was flat. Those gains were partially offset by $0.04 a share of unfavorable variance from higher financing expenses, reflecting new debt issuances and equity dilution, and $0.05 a share of unfavorable variance from other items, primarily the absence of a one-time tax optimization benefit recorded last year.

Sequential non-GAAP EPS increased to $0.53 from $0.40 in the second quarter, after a sequential decline from $0.56 in the first quarter. GAAP EPS likewise rose to $0.50 from $0.37 after a sequential decline from $0.48.

Growth and rate recovery had contributed $0.10 a share of favorability versus the year-ago second quarter and $0.11 in the first quarter. Weather and usage swung to $0.03 of favorable variance after $0.01 of unfavorable weather and usage in the second quarter and $0.02 of unfavorable weather and usage in the first quarter. Financing expenses had contributed $0.01 of unfavorability from increased interest expense in the second quarter.

CenterPoint increased the 10-year plan from $66.7 billion, the level it set in July after a $1.2 billion lift, and said the additional $1.5 billion of accelerated investment supports a rate base CAGR of more than 14% through 2030. It maintained incremental capital investment opportunities of at least $10 billion through 2035.

The company raised 2026 non-GAAP EPS guidance to $1.90-$1.92, from a prior reiterated range of at least the midpoint of $1.89-$1.91, describing nearly 9% growth at the midpoint over 2025 delivered results versus the prior 8% midpoint framing. It initiated 2027 non-GAAP EPS guidance of $2.07-$2.09, approximately 9% growth at the midpoint over the increased 2026 guidance, and extended non-GAAP EPS growth at the mid-to-high end of its 7% to 9% annual range through 2030.

Chair, President and CEO Jason Wells said the company continues to see accelerated growth opportunities across Greater Houston, where the region’s speed-to-market advantage is creating a pipeline of additional customer-driven investment opportunities. He said the growth also supports affordability as the company expects it will drive approximately $5 billion in savings for Texas residential and commercial customers over the next decade, versus approximately $4 billion of projected customer savings cited in the first-quarter release.

Wells said that, beyond today’s $4 billion capital plan increase to expand system capacity, the company sees at least another $10 billion of additional opportunities to enable system reliability, enhance safety and drive economic development across its service territories.

The company said it is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share without unreasonable effort because changes in the value of ZENS and related securities, future impairments, and other unusual items are not estimable.