Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported second-quarter 2016 adjusted earnings per share of 45 cents, beating the Zacks Consensus Estimate of 35 cents by 28.6%. Quarterly earnings also increased 80% from the year-ago figure of 25 cents.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues were $1,371 million, missing the Zacks Consensus Estimate of $1,464 million by nearly 6.4%. Nevertheless, on a year-over-year basis, revenues inched up 1.6% from $1,350 million.
The company’s operating expenses declined 5.2% to $1,086 million.
Operating income was $285 million, up nearly 40% from $204 million a year ago.
CMS Energy’s interest charges were $108 million, up 4.9% from $103 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $385 million as of Jun 30, 2016, up from $266 million as of Dec 31, 2015.
As of Jun 30, 2016, total debt, capital leases and financing obligations stood at $9,174 million, marginally lower than $9,120 million as of Dec 31, 2015.
In the first half of 2016, cash from operating activities was $1,101 million, compared with $1,262 million in the year-ago period.
Guidance
CMS Energy reaffirmed its 2016 adjusted earnings per share guidance in the range of $1.99–$2.02. Adjusted earnings are still expected to grow in the range of 5–7% in 2016 and 6–8% in 2017 and beyond.
Upcoming Peer Releases
NiSource Inc. (NI - Free Report) is slated to report second-quarter 2016 earnings on Aug 2. The Zacks Consensus Estimate stands at 6 cents.
PG&E Corporation (PCG - Free Report) scheduled to report second-quarter 2016 earnings on Jul 28. The Zacks Consensus Estimate stands at 94 cents.
NRG Energy, Inc. (NRG - Free Report) is slated to report second-quarter 2016 earnings on Aug 9. The Zacks Consensus Estimate stands at breakeven results.
Zacks Rank
CMS Energy currently has a Zacks Rank #2 (Buy).
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Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported second-quarter 2016 adjusted earnings per share of 45 cents, beating the Zacks Consensus Estimate of 35 cents by 28.6%. Quarterly earnings also increased 80% from the year-ago figure of 25 cents.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues were $1,371 million, missing the Zacks Consensus Estimate of $1,464 million by nearly 6.4%. Nevertheless, on a year-over-year basis, revenues inched up 1.6% from $1,350 million.
The company’s operating expenses declined 5.2% to $1,086 million.
Operating income was $285 million, up nearly 40% from $204 million a year ago.
CMS Energy’s interest charges were $108 million, up 4.9% from $103 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $385 million as of Jun 30, 2016, up from $266 million as of Dec 31, 2015.
As of Jun 30, 2016, total debt, capital leases and financing obligations stood at $9,174 million, marginally lower than $9,120 million as of Dec 31, 2015.
In the first half of 2016, cash from operating activities was $1,101 million, compared with $1,262 million in the year-ago period.
Guidance
CMS Energy reaffirmed its 2016 adjusted earnings per share guidance in the range of $1.99–$2.02. Adjusted earnings are still expected to grow in the range of 5–7% in 2016 and 6–8% in 2017 and beyond.
Upcoming Peer Releases
NiSource Inc. (NI - Free Report) is slated to report second-quarter 2016 earnings on Aug 2. The Zacks Consensus Estimate stands at 6 cents.
PG&E Corporation (PCG - Free Report) scheduled to report second-quarter 2016 earnings on Jul 28. The Zacks Consensus Estimate stands at 94 cents.
NRG Energy, Inc. (NRG - Free Report) is slated to report second-quarter 2016 earnings on Aug 9. The Zacks Consensus Estimate stands at breakeven results.
Zacks Rank
CMS 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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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