CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2018 adjusted earnings per share (EPS) of 40 cents, down 21.6% year over year. The bottom line also missed the Zacks Consensus Estimate of 41 cents by a penny.
The company delivered GAAP earnings of 38 cents against a loss of a penny incurred in the prior-year period.
For 2018, CMS Energy’s adjusted EPS came in at $2.33, up 7.4% from the prior-year figure of $2.17. The figure missed the Zacks Consensus Estimate of $2.34 by a penny.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues summed $1,829 million, which outshined the Zacks Consensus Estimate of $1,535 million by 19.2%. The top line improved 2.9% on a year-over-year basis.
For 2018, operating revenues totaled $6.87 billion, which exceeded the Zacks Consensus Estimate of $6.64 billion by 3.5%. Annually revenues improved 4.4%.
The company’s operating expenses increased 12.9% to $1,579 million in the quarter under review.
Operating income in the fourth quarter was $250 million, down 34% from $379 million a year ago.
CMS Energy’s interest charges were $121 million, up 10% from $110 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $153 million as of Dec 31, 2018, down from $182 million as of Dec 31, 2017.
As of Dec 31, 2018, debt, capital leases and financing obligations stood at $9,646 million, up from $8,940 million as of Dec 31, 2017.
At the end of 2018, cash from operating activities amounted to $1,703 million compared with $1,705 million in the prior year.
2019 Guidance
CMS Energy currently expects its adjusted earnings per share in the range of $2.47-$2.51 in 2019, up from its prior forecast of $2.46-$2.50.
Zacks Rank
CMS Energy currently sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
American Electric Power Co., Inc. (AEP - Free Report) reported fourth-quarter 2018 operating earnings per share (EPS) of 72 cents in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which fell short of the Zacks Consensus Estimate of $1.51 by 1.3%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share in line with the Zacks Consensus Estimate.
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CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2018 adjusted earnings per share (EPS) of 40 cents, down 21.6% year over year. The bottom line also missed the Zacks Consensus Estimate of 41 cents by a penny.
The company delivered GAAP earnings of 38 cents against a loss of a penny incurred in the prior-year period.
For 2018, CMS Energy’s adjusted EPS came in at $2.33, up 7.4% from the prior-year figure of $2.17. The figure missed the Zacks Consensus Estimate of $2.34 by a penny.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues summed $1,829 million, which outshined the Zacks Consensus Estimate of $1,535 million by 19.2%. The top line improved 2.9% on a year-over-year basis.
For 2018, operating revenues totaled $6.87 billion, which exceeded the Zacks Consensus Estimate of $6.64 billion by 3.5%. Annually revenues improved 4.4%.
The company’s operating expenses increased 12.9% to $1,579 million in the quarter under review.
Operating income in the fourth quarter was $250 million, down 34% from $379 million a year ago.
CMS Energy’s interest charges were $121 million, up 10% from $110 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $153 million as of Dec 31, 2018, down from $182 million as of Dec 31, 2017.
As of Dec 31, 2018, debt, capital leases and financing obligations stood at $9,646 million, up from $8,940 million as of Dec 31, 2017.
At the end of 2018, cash from operating activities amounted to $1,703 million compared with $1,705 million in the prior year.
2019 Guidance
CMS Energy currently expects its adjusted earnings per share in the range of $2.47-$2.51 in 2019, up from its prior forecast of $2.46-$2.50.
Zacks Rank
CMS Energy currently sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
American Electric Power Co., Inc. (AEP - Free Report) reported fourth-quarter 2018 operating earnings per share (EPS) of 72 cents in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which fell short of the Zacks Consensus Estimate of $1.51 by 1.3%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share in line with the Zacks Consensus Estimate.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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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