UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

CENTERPOINT ENERGY, INC.

(Exact name of registrant as specified in its charter)

Texas (State or other jurisdiction of incorporation)		1-31447 (Commission File Number)		74-0694415 (IRS Employer Identification No.)

1111 Louisiana
Houston, Texas		77002
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (713) 207-1111

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On May 5, 2010, CenterPoint Energy, Inc. (“CenterPoint Energy”) reported first quarter 2010 earnings. For additional information regarding CenterPoint Energy’s first quarter 2010 earnings, please refer to CenterPoint Energy’s press release attached to this report as Exhibit 99.1 (the “Press Release”), which Press Release is incorporated by reference herein. The information in the Press Release is being furnished, not filed, pursuant to Item 2.02. Accordingly, the information in the Press Release will not be incorporated by reference into any registration statement filed by CenterPoint Energy under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

The exhibit listed below is furnished pursuant to Item 2.02 of this Form 8-K.

	(d)		Exhibits.
	99.1		Press Release issued May 5, 2010 regarding CenterPoint Energy, Inc.’s first quarter 2010 earnings.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT INDEX

EXHIBIT
NUMBER				EXHIBIT DESCRIPTION
	99.1			Press Release issued May 5, 2010 regarding CenterPoint Energy, Inc.’s first quarter 2010 earnings

Exhibit 99.1

		For more information contact
		Media:
		Leticia Lowe
		Phone 713.207.7702
		Investors:
		Marianne Paulsen
		Phone 713.207.6500

For Immediate Release		Page 1 of 3

CENTERPOINT ENERGY REPORTS FIRST QUARTER 2010 EARNINGS

Houston, TX — May 5, 2010 — CenterPoint Energy, Inc. (NYSE: CNP) today reported net income of $114 million, or $0.29 per diluted share, for the first quarter of 2010 compared to $67 million, or $0.19 per diluted share, for the same period of 2009. Net income for the first quarter of 2010 reflected an increase in federal income tax expense of $21 million, or $0.05 per diluted share, as a result of the recent federal health care legislation that eliminated the future tax deductibility of certain retiree health care costs. Operating income for the first quarter of 2010 was $357 million compared to $285 million for the same period of 2009.

“I am pleased with the overall performance of our company during the first quarter of this year,” said David M. McClanahan, president and chief executive officer of CenterPoint Energy. “Our electric and natural gas utilities reported strong results driven in part from a colder than normal winter, as well as control of operating expenses. Our interstate pipelines and field services businesses also performed well due primarily to increased revenues from investments in the mid-continent area. We continue to believe that our balanced portfolio of electric and natural gas businesses position us well as the economy recovers and the energy markets rebound.”

OPERATING INCOME BY SEGMENT

Electric Transmission & Distribution

The electric transmission & distribution segment reported operating income of $107 million for the first quarter of 2010, consisting of $71 million from the regulated electric transmission & distribution utility operations (TDU) and $36 million related to transition and system restoration bonds. Operating income for the first quarter of 2009 was $70 million, consisting of $37 million from the TDU and $33 million related to transition bonds. Operating income for the TDU benefited from increased energy usage partially due to colder winter weather, the addition of nearly 22,000 metered customers since March 2009 and higher net transmission revenues. Operation and maintenance expenses in 2010 were essentially unchanged from the previous year.

Natural Gas Distribution

The natural gas distribution segment reported operating income of $139 million for the first quarter of 2010 compared to $118 million for the same period of 2009. Operating income benefited from higher system throughput primarily due to colder winter weather in this segment’s southern service territories, higher non-volumetric revenues and lower bad debt expense.

-more-

		For more information contact
		Media:
		Leticia Lowe
		Phone 713.207.7702
		Investors:
		Marianne Paulsen
		Phone 713.207.6500

For Immediate Release		Page 2 of 3

Interstate Pipelines

The interstate pipelines segment reported operating income of $72 million for the first quarter of 2010 compared to $69 million for the same period of 2009. Operating income increased due to higher revenue from firm contracts primarily associated with the Carthage to Perryville pipeline, partially offset by lower revenue from off-system sales.

In addition to operating income, this segment recorded equity income of $3 million for the first quarter of 2010 primarily from its 50 percent interest in the Southeast Supply Header (SESH) compared to an equity loss of $2 million for the first quarter of 2009, which included a non-cash charge of $5 million to reflect SESH’s discontinued use of regulatory accounting.

Field Services

The field services segment reported operating income of $23 million for the first quarter of 2010 compared to $26 million for the same period of 2009. Revenue growth from higher gathering volumes, as well as higher liquids prices in this segment’s processing business, were more than offset by the impact of lower natural gas prices and higher operating expenses primarily related to facility expansions.

In addition to operating income, this segment recorded equity income of $2 million in each of the first quarters of 2010 and 2009 from its 50 percent interest in a gas processing plant.

Competitive Natural Gas Sales and Services

The competitive natural gas sales and services segment reported operating income of $15 million for the first quarter of 2010 compared to $2 million for the same period of 2009. Operating income for the first quarter of 2010 included gains of $3 million resulting from mark-to-market accounting for derivatives associated with certain forward natural gas purchases and sales used to lock in economic margins compared to charges of $19 million for the same period of 2009. The first quarter of 2009 included a $6 million write-down of natural gas inventory to the lower of average cost or market. Operating income for 2010 was also impacted by reduced locational and seasonal price differentials.

DIVIDEND DECLARATION

On April 22, 2010, CenterPoint Energy’s board of directors declared a regular quarterly cash dividend of $0.195 per share of common stock payable on June 10, 2010, to shareholders of record as of the close of business on May 14, 2010.

-more-

		For more information contact
		Media:
		Leticia Lowe
		Phone 713.207.7702
		Investors:
		Marianne Paulsen
		Phone 713.207.6500

For Immediate Release		Page 3 of 3

OUTLOOK REAFFIRMED FOR 2010

CenterPoint Energy reaffirmed its 2010 earnings guidance of $1.02 to $1.12 per diluted share. This guidance takes into consideration performance to date as well as various economic and operational assumptions related to the business segments in which the company operates. The company has made certain assumptions regarding the timing and cost of financing activities and the impact to earnings of various regulatory proceedings. In providing this guidance, the company has not included the impact of any changes in accounting standards, increased taxes resulting from recent health care legislation, any impact from acquisitions or divestitures, the timing effects of mark-to-market or inventory accounting in the company’s competitive natural gas sales and services business, or the outcome of the TDU’s true-up appeal. The company has also excluded any impact to income from the change in value of Time Warner stocks and the related ZENS securities. For the impact of these factors on first quarter 2010 earnings, see the attached reconciliation.

FILING OF FORM 10-Q FOR CENTERPOINT ENERGY, INC.

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the period ended March 31, 2010. A copy of that report is available on the company’s Web site, www.CenterPointEnergy.com, under the Investors section. Other filings the company makes with the SEC and other documents relating to its corporate governance can also be found on that site.

WEBCAST OF EARNINGS CONFERENCE CALL

CenterPoint Energy’s management will host an earnings conference call on Wednesday, May 5, 2010, at 10:30 a.m. Central time or 11:30 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call at www.CenterPointEnergy.com. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the Web site for at least one year.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines, and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Assets total over $19 billion. With about 8,800 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years. For more information, visit the Web site at www.CenterPointEnergy.com.

This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding future financial performance and results of operations and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include the timing and outcome of appeals from the true-up proceedings, the timing and impact of future regulatory, legislative, and IRS decisions, effects of competition, weather variations, changes in CenterPoint Energy’s or its subsidiaries’ business plans, financial market conditions, the timing and extent of changes in natural gas and natural gas liquids prices, the impact of unplanned facility outages, and other factors discussed in CenterPoint Energy’s and its subsidiaries’ Forms 10-K for the fiscal year ended December 31, 2009, CenterPoint Energy’s Form 10-Q for the period ended March 31, 2010, and other filings with the SEC.

###

CenterPoint Energy, Inc. and Subsidiaries

Reconciliation of reported Net Income and diluted EPS to the basis used in providing annual earnings guidance

		First Quarter Ended March 31, 2010
		Net Income				EPS
		(in millions)
As reported		$	114			$	0.29
Timing effects impacting CES(1):
Mark-to-market (gains) losses — natural gas derivative contracts			(2	)			(0.01	)
Natural gas inventory write-downs			—				—
ZENS-related mark-to-market (gains) losses:
Marketable securities(2)			(24	)			(0.06	)
Indexed debt securities			18				0.05
Tax impact of federal health care legislation			21				0.05
Per the basis used in providing annual earnings guidance		$	127			$	0.32

CenterPoint Energy, Inc. and Subsidiaries
Statements of Consolidated Income
(Millions of Dollars)
(Unaudited)

		Quarter Ended
		March 31,
		2009				2010
Revenues:
Electric Transmission & Distribution		$	412			$	482
Natural Gas Distribution			1,421				1,537
Competitive Natural Gas Sales and Services			765				852
Interstate Pipelines			153				138
Field Services			57				68
Other Operations			3				3
Eliminations			(45	)			(57	)
Total			2,766				3,023
Expenses:
Natural gas			1,789				1,935
Operation and maintenance			413				414
Depreciation and amortization			166				200
Taxes other than income taxes			113				117
Total			2,481				2,666
Operating Income			285				357
Other Income (Expense) :
Gain (loss) on marketable securities			(34	)			38
Gain (loss) on indexed debt securities			22				(27	)
Interest and other finance charges			(129	)			(122	)
Interest on transition and system restoration bonds			(33	)			(36	)
Equity in earnings of unconsolidated affiliates			—				5
Other — net			4				1
Total			(170	)			(141	)
Income Before Income Taxes			115				216
Income Tax Expense			(48	)			(102	)
Net Income		$	67			$	114

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Selected Data From Statements of Consolidated Income
(Millions of Dollars, Except Share and Per Share Amounts)
(Unaudited)

		Quarter Ended
		March 31,
		2009				2010
Basic Earnings Per Common Share		$	0.19			$	0.29
Diluted Earnings Per Common Share		$	0.19			$	0.29
Dividends Declared per Common Share		$	0.190			$	0.195
Weighted Average Common Shares Outstanding (000):
— Basic			347,496				392,855
— Diluted			349,157				395,078
Operating Income (Loss) by Segment
Electric Transmission & Distribution:
Electric Transmission and Distribution Operations		$	37			$	71
Transition and System Restoration Bond Companies			33				36
Total Electric Transmission & Distribution			70				107
Natural Gas Distribution			118				139
Competitive Natural Gas Sales and Services			2				15
Interstate Pipelines			69				72
Field Services			26				23
Other Operations			—				1
Total		$	285			$	357

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)

		Electric Transmission & Distribution
		Quarter Ended
		March 31,								% Diff
		2009				2010				Fav/(Unfav)
Results of Operations:
Revenues:
Electric transmission and distribution utility		$	346			$	386				12	%
Transition and system restoration bond companies			66				96				45	%
Total			412				482				17	%
Expenses:
Operation and maintenance			188				190				(1	%)
Depreciation and amortization			68				73				(7	%)
Taxes other than income taxes			53				52				2	%
Transition and system restoration bond companies			33				60				(82	%)
Total			342				375				(10	%)
Operating Income		$	70			$	107				53	%
Operating Income:
Electric transmission and distribution operations		$	37			$	71				92	%
Transition and system restoration bond companies			33				36				9	%
Total Segment Operating Income		$	70			$	107				53	%
Electric Transmission & Distribution Operating Data:
Actual MWH Delivered
Residential			3,966,519				5,172,997				30	%
Total			15,142,308				16,436,310				9	%
Weather (average for service area):
Percentage of 10-year average:
Cooling degree days			120	%			20	%
Heating degree days			89	%			163	%
Number of metered customers — end of period:
Residential			1,838,766				1,858,403				1	%
Total			2,082,930				2,104,786				1	%

		Natural Gas Distribution
		Quarter Ended
		March 31,								% Diff
		2009				2010				Fav/(Unfav)
Results of Operations:
Revenues		$	1,421			$	1,537				8	%
Expenses:
Natural gas			1,045				1,139				(9	%)
Operation and maintenance			169				167				1	%
Depreciation and amortization			40				40				—
Taxes other than income taxes			49				52				(6	%)
Total			1,303				1,398				(7	%)
Operating Income		$	118			$	139				18	%
Natural Gas Distribution Operating Data:
Throughput data in BCF
Residential			78				96				23	%
Commercial and Industrial			77				87				13	%
Total Throughput			155				183				18	%
Weather (average for service area)
Percentage of 10-year average:
Heating degree days			102	%			117	%
Number of customers — end of period:
Residential			2,996,455				3,012,856				1	%
Commercial and Industrial			246,405				246,676				—
Total			3,242,860				3,259,532				1	%

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)

		Competitive Natural Gas Sales and Services
		Quarter Ended
		March 31,								% Diff
		2009				2010				Fav/(Unfav)
Results of Operations:
Revenues		$	765			$	852				11	%
Expenses:
Natural gas			752				826				(10	%)
Operation and maintenance			10				9				10	%
Depreciation and amortization			1				1				—
Taxes other than income taxes			—				1				—
Total			763				837				(10	%)
Operating Income		$	2			$	15				650	%
Competitive Natural Gas Sales and Services Operating Data:
Throughput data in BCF			141				141				—
Number of customers — end of period			10,862				11,369				5	%

		Interstate Pipelines
		Quarter Ended
		March 31,								% Diff
		2009				2010				Fav/(Unfav)
Results of Operations:
Revenues		$	153			$	138				(10	%)
Expenses:
Natural gas			29				10				66	%
Operation and maintenance			35				35				—
Depreciation and amortization			12				13				(8	%)
Taxes other than income taxes			8				8				—
Total			84				66				21	%
Operating Income		$	69			$	72				4	%
Pipelines Operating Data:
Throughput data in BCF
Transportation			467				438				(6	%)

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)

		Field Services
		Quarter Ended
		March 31,								% Diff
		2009				2010				Fav/(Unfav)
Results of Operations:
Revenues		$	57			$	68				19	%
Expenses:
Natural gas			7				16				(129	%)
Operation and maintenance			19				21				(11	%)
Depreciation and amortization			4				6				(50	%)
Taxes other than income taxes			1				2				(100	%)
Total			31				45				(45	%)
Operating Income		$	26			$	23				(12	%)
Field Services Operating Data:
Throughput data in BCF
Gathering			104				128				23	%

		Other Operations
		Quarter Ended
		March 31,								% Diff
		2009				2010				Fav/(Unfav)
Results of Operations:
Revenues		$	3			$	3				—
Expenses			3				2				33	%
Operating Income		$	—			$	1				—

Capital Expenditures by Segment
(Millions of Dollars)
(Unaudited)

		Quarter Ended
		March 31,
		2009				2010
Capital Expenditures by Segment
Electric Transmission & Distribution		$	81			$	95
Hurricane Ike			16				—
Total Electric Transmission & Distribution			97				95
Natural Gas Distribution			34				29
Competitive Natural Gas Sales and Services			1				—
Interstate Pipelines			47				8
Field Services			38				121
Other Operations			7				4
Total		$	224			$	257

Interest Expense Detail
(Millions of Dollars)
(Unaudited)

		Quarter Ended
		March 31,
		2009				2010
Interest Expense Detail
Amortization of Deferred Financing Cost		$	9			$	7
Capitalization of Interest Cost			(2	)			(1	)
Transition and System Restoration Bond Interest Expense			33				36
Other Interest Expense			122				116
Total Interest Expense		$	162			$	158

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Millions of Dollars)
(Unaudited)

		December 31,				March 31,
		2009				2010
ASSETS
Current Assets:
Cash and cash equivalents		$	740			$	329
Other current assets			2,164				2,055
Total current assets			2,904				2,384
Property, Plant and Equipment, net			10,788				10,928
Other Assets:
Goodwill			1,696				1,696
Regulatory assets			3,677				3,619
Other non-current assets			708				724
Total other assets			6,081				6,039
Total Assets		$	19,773			$	19,351
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Short-term borrowings		$	55			$	2
Current portion of transition and system restoration bonds long-term debt			241				274
Current portion of indexed debt			121				122
Current portion of other long-term debt			541				776
Other current liabilities			2,080				2,028
Total current liabilities			3,038				3,202
Other Liabilities:
Accumulated deferred income taxes, net and investment tax credit			2,792				2,814
Regulatory liabilities			921				946
Other non-current liabilities			1,264				1,270
Total other liabilities			4,977				5,030
Long-term Debt:
Transition and system restoration bonds			2,805				2,665
Other			6,314				5,745
Total long-term debt			9,119				8,410
Shareholders’ Equity			2,639				2,709
Total Liabilities and Shareholders’ Equity		$	19,773			$	19,351

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Condensed Statements of Consolidated Cash Flows
(Millions of Dollars)
(Unaudited)

		Three Months Ended March 31,
		2009				2010
Cash Flows from Operating Activities:
Net income		$	67			$	114
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			176				207
Deferred income taxes			30				(34	)
Write-down of natural gas inventory			6				—
Changes in net regulatory assets			21				19
Changes in other assets and liabilities			132				127
Other, net			1				2
Net Cash Provided by Operating Activities			433				435
Net Cash Used in Investing Activities			(261	)			(303	)
Net Cash Used in Financing Activities			(274	)			(543	)
Net Decrease in Cash and Cash Equivalents			(102	)			(411	)
Cash and Cash Equivalents at Beginning of Period			167				740
Cash and Cash Equivalents at End of Period		$	65			$	329

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Annual Report on Form 10-Q of CenterPoint Energy, Inc.