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CenterPoint Reports Financial Results For Energy Services Segment
February 27,2020 CenterPoint Energy, Inc. reported fourth quarter and full-year earnings, including results for its Energy Services segment, which includes its retail marketing activities As previously reported, CenterPoint Energy, Inc. recently announced it has entered into an agreement to sell its natural gas retail supplier business, CenterPoint Energy Services, Inc. (CES) to Energy Capital Partners, LLC, (ECP) CenterPoint's energy services segment reported operating income of $32 million for the full-year 2019, which included a mark-to-market gain of $39 million and a non-cash impairment charge of $48 million recorded for goodwill, compared with an operating loss of $47 million for 2018, which included a mark-to-market loss of $110 million. Excluding mark-to-market adjustments and the non-cash impairment charge, operating income was $41 million for the full-year 2019 compared to $63 million for 2018. Operating income, excluding mark-to-market adjustments and the non-cash impairment charge, decreased primarily as a result of a decrease in margin due to fewer opportunities to optimize natural gas supply costs in 2019 relative to 2018. The energy services segment was serving 31,000 customers as of December 31, 2019, versus 30,000 a year ago For the fourth quarter, the energy services segment recorded throughput of 345 BCF, versus 362 BCF in the year-ago quarter
For the fourth quarter, the energy services segment recorded revenues of $936 million, versus $1.456 billion a year ago
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