CenterPoint Energy, Inc. CNP reported first-quarter 2016 earnings of 36 cents per share, beating the Zacks Consensus Estimate of 31 cents by 16.1%. The reported number was also 20% higher than the prior-year figure of 30 cents.RevenuesCenterPoint Energy’s total revenue in the reported quarter was $1,984 million, falling short of the Zacks Consensus Estimate of $2,524 million by 21.4%. Quarterly revenues also plunged 18.5% from $2,433 million reported in the year-ago period.The year-over-year decline in the top line was mainly due to lower contribution from Energy Services (32.5%) and Natural Gas Distribution (25%).Operational ResultsTotal expenses decreased 20.3% to $1,734 million primarily due to a decline in natural gas expenses.The company’s operating income decreased to $250 million in the reported quarter from $256 million in the year-ago quarter.Total interest and other finance charges decreased to $10 million in the reported quarter from $47 million in the year-ago quarter.Segment ResultsThe Electric Transmission & Distribution segment reported an operating income of $83 million, down 14% from $96 million a year ago. The decline was due to higher depreciation and operations and maintenance expenses.Natural Gas Distribution reported an operating income of $160 million, compared with $146 million in the year-ago quarter. The increase can be attributed to rate increase and customer growth.The Energy Services segment’s operating income of $6 million declined from $13 million a year ago.Financial ConditionAs of Mar 31, 2016, CenterPoint Energy had cash and cash equivalents of $218 million, down from $264 million as of Dec 31, 2015.Total long-term debt was $7,354 million as of Mar 31, 2016, down from $7,866 million as of Dec 31, 2015.In the quarter, the company’s net cash from operating activities was $634 million, down from $666 million in the year-ago period.In the reported quarter, CenterPoint Energy’s total capital expenditure remained at $309 million, on par with the year-ago level.GuidanceCenterPoint maintained 2016 earnings in the range of $1.12–$1.20 per diluted share. This includes expected earnings per diluted share from utility operations in the range of 88–92 cents and midstream investment of 24–28 cents.Peer ReleasesCMS Energy Corp. CMS reported first-quarter 2016 adjusted earnings per share of 59 cents, missing the Zacks Consensus Estimate of 68 cents by 13.2%. Quarterly earnings also plunged 19.2% from the year-ago figure of 73 cents.DTE Energy Company DTE reported first-quarter 2016 operating earnings per share of $1.52, in line with the Zacks Consensus Estimate. Reported earnings, however, dropped 7.9% from the year-ago figure of $1.65.Consolidated Edison Inc. ED posted first-quarter 2016 adjusted earnings of $1.18 per share, missing the Zacks Consensus Estimate of $1.22 by 3.3%. Reported earnings also decreased 5.6% from the year-ago figure of $1.25 per share due to lower sales.Zacks RankCenterPoint Energy currently has a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CMS ENERGY (CMS): Free Stock Analysis Report CENTERPOINT EGY (CNP): Free Stock Analysis Report CONSOL EDISON (ED): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research