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CMS Energy (CMS) Q1 Earnings Miss Estimates, Revenues Up Y/Y
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CMS Energy Corporation (CMS - Free Report) reported first-quarter 2019 adjusted earnings per share (EPS) of 75 cents, down 12.8% year over year. The bottom line also missed the Zacks Consensus Estimate of 77 cents by 2.60%.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues summed $2,059 million, which surpassed the Zacks Consensus Estimate of $1,935 million by 6.4%. The top line also improved 5.4% on a year-over-year basis.
The company’s operating expenses increased 6.9% to $1,700 million in the quarter under review.
Operating income in the first quarter was $359 million, down 1.1% from $363 million a year ago.
CMS Energy’s interest charges were $121 million, up 9% from $111 million in the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy had cash and cash equivalents of $234 million as of Mar 31, 2019, up from $153 million as of Dec 31, 2018.
As of Mar 31, 2019, total debt, capital leases and financing obligations (excluding securitization debt) stood at $11,791 million, up from $11,500 million as of Dec 31, 2018.
At the end of the first three months of 2019, cash from operating activities amounted to $617 million compared with $708 million in the prior-year period.
2019 Guidance
CMS Energy reaffirmed its adjusted earnings per share guidance of $2.47-$2.51 for 2019, indicating 6-8% growth from the year-ago quarter’s reported figure.
Zacks Rank
CMS Energy currently sports a Zacks Rank #4 (Sell).
NextEra Energy, Inc. (NEE - Free Report) , which carries a Zacks Rank #2 (Buy), reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
DTE Energy Company (DTE - Free Report) , which carries a Zacks Rank #2, reported first-quarter 2019 operating earnings per share (EPS) of $2.05 that exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
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CMS Energy (CMS) Q1 Earnings Miss Estimates, Revenues Up Y/Y
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2019 adjusted earnings per share (EPS) of 75 cents, down 12.8% year over year. The bottom line also missed the Zacks Consensus Estimate of 77 cents by 2.60%.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues summed $2,059 million, which surpassed the Zacks Consensus Estimate of $1,935 million by 6.4%. The top line also improved 5.4% on a year-over-year basis.
The company’s operating expenses increased 6.9% to $1,700 million in the quarter under review.
Operating income in the first quarter was $359 million, down 1.1% from $363 million a year ago.
CMS Energy’s interest charges were $121 million, up 9% from $111 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 $234 million as of Mar 31, 2019, up from $153 million as of Dec 31, 2018.
As of Mar 31, 2019, total debt, capital leases and financing obligations (excluding securitization debt) stood at $11,791 million, up from $11,500 million as of Dec 31, 2018.
At the end of the first three months of 2019, cash from operating activities amounted to $617 million compared with $708 million in the prior-year period.
2019 Guidance
CMS Energy reaffirmed its adjusted earnings per share guidance of $2.47-$2.51 for 2019, indicating 6-8% growth from the year-ago quarter’s reported figure.
Zacks Rank
CMS Energy currently sports a Zacks Rank #4 (Sell).
Recent Utility Releases
FirstEnergy Corp. (FE - Free Report) , which carries a Zacks Rank #3 (Hold), delivered first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NextEra Energy, Inc. (NEE - Free Report) , which carries a Zacks Rank #2 (Buy), reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
DTE Energy Company (DTE - Free Report) , which carries a Zacks Rank #2, reported first-quarter 2019 operating earnings per share (EPS) of $2.05 that exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>