CenterPoint Energy reported diluted GAAP earnings per share of $0.30 and non-GAAP EPS of $0.29 for Q2 2025, compared to $0.36 non-GAAP EPS in Q2 2024.
Equity issuances of $500 million last year, including a $250 million pull forward, resulted in a $0.01 unfavorable variance quarter-over-quarter.
The first half of 2025 non-GAAP EPS is approximately 46% of the midpoint of the full year guidance range of $1.74 to $1.76, in line with expectations.
Through the first half of 2025, $2.4 billion of base capital work was invested, on track to meet the revised 2025 capital investment target of $5.3 billion.
Trailing 12-month adjusted FFO to debt ratio was 14.1% at quarter end, with credit metrics expected to strengthen through the year.
Unfavorable variances included $0.01 from rate recovery netted with depreciation and taxes, $0.03 from O&M due to accelerated vegetation management, and $0.03 from higher interest expense and financing costs.
Weather and usage contributed a favorable $0.01 variance, mainly from Houston Electric's warmer start to 2025 compared to 2024.
Liquidity remained strong at $489.9 million as of June 30, 2025, down $31.5 million from the prior quarter but up $359 million year-over-year.
NuScale reported revenue of $8.1 million for Q2 2025, up from $1 million in the same period last year, driven primarily by engineering and licensing fees related to the RoPower project.
Operating expenses were $44.9 million for the quarter, slightly higher than $42 million in Q2 2024, reflecting disciplined cash management.
Adjusted EBITDA totaled $50 million, 15% of revenue, and decreased 32% compared to the prior quarter, including $14 million lease expense related to electric fleets.
Capital expenditures paid were $37 million and incurred were $73 million, including $30 million for maintenance and $43 million supporting PROPWR orders.
Cash and liquidity remain strong with $75 million in cash and $178 million total liquidity including $103 million available capacity under the ABL credit facility.
Free cash flow for the Completions business was $26 million, demonstrating sustainable cash flow despite challenging market conditions.
Net loss totaled $7 million or $0.07 loss per diluted share compared to net income of $10 million or $0.09 income per diluted share for the first quarter of 2025.
No shares were repurchased in Q2 2025 as the company prioritized launching and scaling the PROPWR business.
ProPetro generated total revenue of $326 million, a decrease of 9% compared to the prior quarter.
Dafinchi