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CMS Energy (CMS) Beats on Q2 Earnings, Revenues Increase Y/Y
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Jackson, MI-based CMS Energy Corporation (CMS - Free Report) 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 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.
Xcel Energy (XEL - Free Report) 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 - Free Report) 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 - Free Report) 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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CMS Energy (CMS) Beats on Q2 Earnings, Revenues Increase Y/Y
Jackson, MI-based CMS Energy Corporation (CMS - Free Report) 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 - Free Report) 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 - Free Report) 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 - Free Report) reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>