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What's in the Offing for CMS Energy (CMS) in Q2 Earnings?
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CMS Energy Corporation (CMS - Free Report) is slated to report second-quarter 2023 results on Jul 27, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 6.06%. CMS has a trailing four-quarter average earnings surprise of 6.63%.
Factors to Note
During the second quarter, CMS Energy’s service territories witnessed mixed weather pattern. While its customers observed colder-than-normal temperature at the beginning of the April-June period, a heatwave prevailed in some of the company’s service areas during June. So, the weather pattern is expected to have a more or less moderate impact on CMS’ overall second-quarter results.
Improving commercial and industrial electricity demand, along with favorable rate hikes witnessed in the recent past, is likely to have contributed to the company’s revenues in the to-be-reported quarter.
The Zacks Consensus Estimate for revenues is pegged at $2.03 billion, indicating a 5.6% increase from the year-ago quarter’s reported figure.
During the second quarter, CMS Energy’s service territories witnessed storm and wildfire impacts. Higher operating and maintenance expense incurred for mending storm and wildfire-related damages might have hurt the company’s bottom-line performance.
Nevertheless, sales growth and tax benefits are likely to have had boosted its overall earnings.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 69 cents per share, indicating an improvement of 30.2% from the prior-year quarter’s reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for CMS Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The company’s Earnings ESP is +1.59%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three other Utility players that you may want to consider as these too have the right combination of elements to come up with an earnings beat this reporting cycle:
Ameren (AEE - Free Report) has an Earnings ESP of +11.82% and a Zacks Rank #3 at present. The stock has a four-quarter average earnings surprise of 4.70%.
Ameren boasts a long-term earnings growth rate of 6.4%. The Zacks Consensus Estimate for AEE’s second-quarter earnings and sales is pegged at 70 cents per share and $1.73 billion, respectively.
Public Service Enterprise Group (PEG - Free Report) has an Earnings ESP of +3.97% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter earnings is pegged at 64 cents per share, implying no change from that reported in the prior-year quarter.
The consensus mark for PEG’s sales is pinned at $2.03 billion, indicating a decline of 2.3% year over year. PEG has a four-quarter average earnings surprise of 4.33%.
Edison International (EIX - Free Report) has an Earnings ESP of +3.58% and a Zacks Rank #3 at present. The consensus estimate for second-quarter earnings is pinned at 92 cents per share, indicating a year-over-year decline of 2.1%.
Edison International boasts a four-quarter average earnings surprise of 3.70%. The consensus mark for EIX’s second-quarter sales is pegged at $4.26 billion, indicating growth of 6.4% from that recorded in the prior-year quarter.
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What's in the Offing for CMS Energy (CMS) in Q2 Earnings?
CMS Energy Corporation (CMS - Free Report) is slated to report second-quarter 2023 results on Jul 27, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 6.06%. CMS has a trailing four-quarter average earnings surprise of 6.63%.
Factors to Note
During the second quarter, CMS Energy’s service territories witnessed mixed weather pattern. While its customers observed colder-than-normal temperature at the beginning of the April-June period, a heatwave prevailed in some of the company’s service areas during June. So, the weather pattern is expected to have a more or less moderate impact on CMS’ overall second-quarter results.
CMS Energy Corporation Price and EPS Surprise
CMS Energy Corporation price-eps-surprise | CMS Energy Corporation Quote
Improving commercial and industrial electricity demand, along with favorable rate hikes witnessed in the recent past, is likely to have contributed to the company’s revenues in the to-be-reported quarter.
The Zacks Consensus Estimate for revenues is pegged at $2.03 billion, indicating a 5.6% increase from the year-ago quarter’s reported figure.
During the second quarter, CMS Energy’s service territories witnessed storm and wildfire impacts. Higher operating and maintenance expense incurred for mending storm and wildfire-related damages might have hurt the company’s bottom-line performance.
Nevertheless, sales growth and tax benefits are likely to have had boosted its overall earnings.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 69 cents per share, indicating an improvement of 30.2% from the prior-year quarter’s reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for CMS Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The company’s Earnings ESP is +1.59%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CMS carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are three other Utility players that you may want to consider as these too have the right combination of elements to come up with an earnings beat this reporting cycle:
Ameren (AEE - Free Report) has an Earnings ESP of +11.82% and a Zacks Rank #3 at present. The stock has a four-quarter average earnings surprise of 4.70%.
Ameren boasts a long-term earnings growth rate of 6.4%. The Zacks Consensus Estimate for AEE’s second-quarter earnings and sales is pegged at 70 cents per share and $1.73 billion, respectively.
Public Service Enterprise Group (PEG - Free Report) has an Earnings ESP of +3.97% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter earnings is pegged at 64 cents per share, implying no change from that reported in the prior-year quarter.
The consensus mark for PEG’s sales is pinned at $2.03 billion, indicating a decline of 2.3% year over year. PEG has a four-quarter average earnings surprise of 4.33%.
Edison International (EIX - Free Report) has an Earnings ESP of +3.58% and a Zacks Rank #3 at present. The consensus estimate for second-quarter earnings is pinned at 92 cents per share, indicating a year-over-year decline of 2.1%.
Edison International boasts a four-quarter average earnings surprise of 3.70%. The consensus mark for EIX’s second-quarter sales is pegged at $4.26 billion, indicating growth of 6.4% from that recorded in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.