Yahoo Finance CMS Energy (CMS) Beats on Q2 Earnings, Revenues Increase Y/Y
Jackson, MI-based CMS Energy Corporation CMS reported second-quarter 2018 adjusted earnings per share (EPS) of 48 cents. The figure surpassed the Zacks Consensus Estimate of 41 cents by 17.1%.
The company reported GAAP earnings of 49 cents in the reported quarter, compared to 33 cents in the prior-year quarter.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues came in at $1,492 million, beating the Zacks Consensus Estimate of $1,451 million by 2.8%. Moreover, on a year-over-year basis, revenues improved approximately 3% from $1,449 million.
The company’s operating expenses increased 2.4% to $1,237 million during the quarter.
Operating income during the second quarter was $255 million, up 5.8% from $241 million a year ago.
CMS Energy’s interest charges were $112 million, up 1.8% from $110 million in the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation Price, Consensus and EPS Surprise | CMS Energy Corporation Quote
Financial Condition
CMS Energy had cash and cash equivalents of $477 million as of Jun 30, 2018, up from $182 million as of Dec 31, 2017.
As of Jun 30, 2018, debt, capital leases and financing obligations stood at $8,897 million, down from $8,940 million as of Dec 31, 2017.
At the end of the second quarter, cash from operating activities was $1,416 million compared with $1,119 million in the year-ago period.
2018 Guidance
CMS Energy reaffirmed its 2018 adjusted earnings per share guidance in the range of $2.30–$2.34. Adjusted earnings are still expected to grow year over year in the range of 6–8% in 2018.
Zacks Rank
CMS Energy currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Xcel Energy XEL recorded second-quarter 2018 operating earnings of 52 cents per share, beating the Zacks Consensus Estimate of 47 cents by 10.6%. Also, the bottom line was 15.6% higher than the year-ago quarter’s tally.
DTE Energy DTE reported second-quarter 2018 operating earnings per share of $1.36, which outpaced the Zacks Consensus Estimate of $1.11 by 22.5%.
American Electric Power AEP reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.
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