CMS Energy Corporation (CMS - Free Report) reported third-quarter 2019 earnings per share (EPS) of 73 cents, up 23.7% from the year-ago quarter’s reported figure of 59 cents. The bottom line also beat the Zacks Consensus Estimate of 71 cents by 2.8%.
The year-over-year uptick in the bottom line can be attributed to improved operating income.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues totaled $1,546 million, which missed the Zacks Consensus Estimate of $1,651 million by 6.4%. The top line also fell 3.3% on a year-over-year basis.
The company’s operating expenses declined 8.4% to $1,195 million in the quarter under review.
Operating income in the third quarter was $351 million, up 19.4% from $294 million in the year-ago quarter.
CMS Energy’s interest charges were $133 million, up 16.7% from $114 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $403 million as of Sep 30, 2019, up from $153 million as of Dec 31, 2018.
As of Sep 30, 2019, total debt, capital leases and financing obligations (excluding securitization debt) were $12,931 million, up from $11,500 million as of Dec 31, 2018.
At the end of the first nine months of 2019, cash from operating activities amounted to $1,395 million compared with $1,565 million in the year-ago 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. Currently, the Zacks Consensus Estimate for the company’s full-year earnings is pegged at $2.49, in line with the midpoint of the company’s projected guided range.
Zacks Rank
CMS Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2019 adjusted earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 by 5.3%. Moreover, earnings were up 10.1% on a year-over-year basis.
Xcel Energy Inc. (XEL - Free Report) posted third-quarter 2019 operating earnings of $1.01 per share, which lagged the Zacks Consensus Estimate of $1.05 by 3.8%. The bottom line increased 5.2% from the year-ago quarter.
American Electric Power Co., Inc. (AEP - Free Report) reported third-quarter 2019 adjusted earnings per share (EPS) of $1.46, which surpassed the Zacks Consensus Estimate of $1.30 by 12.3%.
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CMS Energy Corporation (CMS - Free Report) reported third-quarter 2019 earnings per share (EPS) of 73 cents, up 23.7% from the year-ago quarter’s reported figure of 59 cents. The bottom line also beat the Zacks Consensus Estimate of 71 cents by 2.8%.
The year-over-year uptick in the bottom line can be attributed to improved operating income.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues totaled $1,546 million, which missed the Zacks Consensus Estimate of $1,651 million by 6.4%. The top line also fell 3.3% on a year-over-year basis.
The company’s operating expenses declined 8.4% to $1,195 million in the quarter under review.
Operating income in the third quarter was $351 million, up 19.4% from $294 million in the year-ago quarter.
CMS Energy’s interest charges were $133 million, up 16.7% from $114 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $403 million as of Sep 30, 2019, up from $153 million as of Dec 31, 2018.
As of Sep 30, 2019, total debt, capital leases and financing obligations (excluding securitization debt) were $12,931 million, up from $11,500 million as of Dec 31, 2018.
At the end of the first nine months of 2019, cash from operating activities amounted to $1,395 million compared with $1,565 million in the year-ago 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. Currently, the Zacks Consensus Estimate for the company’s full-year earnings is pegged at $2.49, in line with the midpoint of the company’s projected guided range.
Zacks Rank
CMS Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2019 adjusted earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 by 5.3%. Moreover, earnings were up 10.1% on a year-over-year basis.
Xcel Energy Inc. (XEL - Free Report) posted third-quarter 2019 operating earnings of $1.01 per share, which lagged the Zacks Consensus Estimate of $1.05 by 3.8%. The bottom line increased 5.2% from the year-ago quarter.
American Electric Power Co., Inc. (AEP - Free Report) reported third-quarter 2019 adjusted earnings per share (EPS) of $1.46, which surpassed the Zacks Consensus Estimate of $1.30 by 12.3%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
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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