CenterPoint 3Q profit up on more power customers

Net income advanced to $136 million, or 39 cents per share, from $91 million, or 27 cents per share, in the year-ago period.

Revenue rose to $2.52 billion from $1.88 billion last year.

The results easily beat estimates of analysts polled by Thomson Reuters, who expected profit of 21 cents per share on revenue of $2.10 billion.

"Strong results in our field services and competitive natural gas businesses helped offset the loss of revenue from Hurricane Ike,"' said David M. McClanahan, president and chief executive, in a statement.

The company said it lost about $17 million in revenue when a hurricane knocked out power to about 90 percent of its customers in September. It added 42,000 metered customers year-over-year and recorded increased power consumption.

CenterPoint shares rose 73 cents, or 6 percent, to $12.39 in morning trading. In the past year, the stock has ranged from $8.48 to $18.63. The company delivers electricity and natural gas to more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas.