Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported third-quarter 2016 adjusted earnings per share of 70 cents, beating the Zacks Consensus Estimate of 60 cents by 16.7%. Quarterly earnings also jumped 32.1% from the year-ago figure of 53 cents.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues were $1,587 million, missing the Zacks Consensus Estimate of $1,609 million by nearly 1.4%. Nevertheless, on a year-over-year basis, revenues improved 6.8% from $1,486 million.
The company’s operating expenses increased 2.7% to $1,201 million.
Operating income was $386 million, up nearly 21.8% from $317 million a year ago.
CMS Energy’s interest charges were $110 million, up 8.9% from $101 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $339 million as of Sep 30, 2016, up from $266 million as of Dec 31, 2015.
As of Sep 30, 2016, total debt, capital leases and financing obligations stood at $9,572 million, up from $9,120 million as of Dec 31, 2015.
In the first nine months of 2016, cash from operating activities was $1,241 million, compared with $1,240 million in the year-ago period.
Guidance
CMS Energy raised the low end of its 2016 adjusted earnings per share guidance to the range of $2.00–$2.02 from the prior guidance of $1.99–$2.02. For 2017, the company expects adjusted earnings per share in the range of $2.13–$2.17. Adjusted earnings are still expected to grow in the range of 5–7% in 2016, and 6–8% in 2017 and beyond.
Peer Releases
Entergy Corporation (ETR - Free Report) reported third-quarter 2016 operational earnings of $2.31 per share, beating the Zacks Consensus Estimate of $1.95 by 18.5%. The reported number also improved 21.6% from $1.90 reported a year ago.
DTE Energy Company (DTE - Free Report) reported third-quarter 2016 operating earnings per share of $1.96, beating the Zacks Consensus Estimate of $1.54 by 27.3%. Reported earnings were also up 40% from the year-ago figure of $1.40.
An Upcoming Peer Release
AES Corporation (AES - Free Report) has an Earnings ESP of +5.88% and a Zacks Rank #3. It is expected to report earnings on Nov 4.
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.
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Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported third-quarter 2016 adjusted earnings per share of 70 cents, beating the Zacks Consensus Estimate of 60 cents by 16.7%. Quarterly earnings also jumped 32.1% from the year-ago figure of 53 cents.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues were $1,587 million, missing the Zacks Consensus Estimate of $1,609 million by nearly 1.4%. Nevertheless, on a year-over-year basis, revenues improved 6.8% from $1,486 million.
The company’s operating expenses increased 2.7% to $1,201 million.
Operating income was $386 million, up nearly 21.8% from $317 million a year ago.
CMS Energy’s interest charges were $110 million, up 8.9% from $101 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $339 million as of Sep 30, 2016, up from $266 million as of Dec 31, 2015.
As of Sep 30, 2016, total debt, capital leases and financing obligations stood at $9,572 million, up from $9,120 million as of Dec 31, 2015.
In the first nine months of 2016, cash from operating activities was $1,241 million, compared with $1,240 million in the year-ago period.
Guidance
CMS Energy raised the low end of its 2016 adjusted earnings per share guidance to the range of $2.00–$2.02 from the prior guidance of $1.99–$2.02. For 2017, the company expects adjusted earnings per share in the range of $2.13–$2.17. Adjusted earnings are still expected to grow in the range of 5–7% in 2016, and 6–8% in 2017 and beyond.
Peer Releases
Entergy Corporation (ETR - Free Report) reported third-quarter 2016 operational earnings of $2.31 per share, beating the Zacks Consensus Estimate of $1.95 by 18.5%. The reported number also improved 21.6% from $1.90 reported a year ago.
DTE Energy Company (DTE - Free Report) reported third-quarter 2016 operating earnings per share of $1.96, beating the Zacks Consensus Estimate of $1.54 by 27.3%. Reported earnings were also up 40% from the year-ago figure of $1.40.
An Upcoming Peer Release
AES Corporation (AES - Free Report) has an Earnings ESP of +5.88% and a Zacks Rank #3. It is expected to report earnings on Nov 4.
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.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
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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