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CMS Energy (CMS) Tops Q1 Earnings Estimates, Keeps '17 View
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Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted earnings per share of 71 cents, beating the Zacks Consensus Estimate of 65 cents by 9.2%. Quarterly earnings also improved 20.3% from the year-ago figure of 59 cents.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues came in at $1,829 million, beating the Zacks Consensus Estimate of $1,820 million by nearly 0.5%. On a year-over-year basis too, revenues improved 1.6% from $1,801 million.
The company’s operating expenses dropped 2.3% to $1,441 million during the quarter.
Operating income during the first quarter was $388 million, up 19% from $326 million a year ago.
CMS Energy’s interest charges were $107 million, up merely 0.9% from $106 million in the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy had cash and cash equivalents of $433 million as of Mar 31, 2017, up from $235 million as of Dec 31, 2016.
As of Mar 31, 2017, total debt, capital leases and financing obligations stood at $9,717 million, up from $9,706 million as of Dec 31, 2016.
At the end of the first quarter, cash from operating activities was $646 million, compared with $632 million in the year-ago period.
Guidance
CMS Energy reaffirmed its 2017 adjusted earnings per share guidance in the range of $2.14–$2.18. Adjusted earnings are still expected to grow year over year in the range of 6–8% in 2017.
Public Service Enterprise Group Inc. (PEG - Free Report) or PSEG reported first-quarter 2017 adjusted operating earnings of 92 cents per share, which exceeded the Zacks Consensus Estimate of 84 cents by 9.5%. Revenues of $2,592 million in the reported quarter surpassed the Zacks Consensus Estimate by 1.1%.
Entergy Corporation (ETR - Free Report) reported first-quarter 2017 operational earnings of 99 cents per share, lagging the Zacks Consensus Estimate of $1.06 by 6.6%. It reported total revenue of $2,588.5 million, beating the Zacks Consensus Estimate of $2,566 million by 0.9%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2017 adjusted earnings of $1.75 per share, beating the Zacks Consensus Estimate of $1.56 by 12.2%. Operating revenues totaled $3,972 million that surpassed the Zacks Consensus Estimate of $3,943 million by nearly 0.7%.
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Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
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CMS Energy (CMS) Tops Q1 Earnings Estimates, Keeps '17 View
Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted earnings per share of 71 cents, beating the Zacks Consensus Estimate of 65 cents by 9.2%. Quarterly earnings also improved 20.3% from the year-ago figure of 59 cents.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues came in at $1,829 million, beating the Zacks Consensus Estimate of $1,820 million by nearly 0.5%. On a year-over-year basis too, revenues improved 1.6% from $1,801 million.
The company’s operating expenses dropped 2.3% to $1,441 million during the quarter.
Operating income during the first quarter was $388 million, up 19% from $326 million a year ago.
CMS Energy’s interest charges were $107 million, up merely 0.9% from $106 million in the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation Price, Consensus and EPS Surprise | CMS Energy Corporation Quote
Financial Condition
CMS Energy had cash and cash equivalents of $433 million as of Mar 31, 2017, up from $235 million as of Dec 31, 2016.
As of Mar 31, 2017, total debt, capital leases and financing obligations stood at $9,717 million, up from $9,706 million as of Dec 31, 2016.
At the end of the first quarter, cash from operating activities was $646 million, compared with $632 million in the year-ago period.
Guidance
CMS Energy reaffirmed its 2017 adjusted earnings per share guidance in the range of $2.14–$2.18. Adjusted earnings are still expected to grow year over year in the range of 6–8% in 2017.
Zacks Rank
CMS Energy currently has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Earnings Review
Public Service Enterprise Group Inc. (PEG - Free Report) or PSEG reported first-quarter 2017 adjusted operating earnings of 92 cents per share, which exceeded the Zacks Consensus Estimate of 84 cents by 9.5%. Revenues of $2,592 million in the reported quarter surpassed the Zacks Consensus Estimate by 1.1%.
Entergy Corporation (ETR - Free Report) reported first-quarter 2017 operational earnings of 99 cents per share, lagging the Zacks Consensus Estimate of $1.06 by 6.6%. It reported total revenue of $2,588.5 million, beating the Zacks Consensus Estimate of $2,566 million by 0.9%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2017 adjusted earnings of $1.75 per share, beating the Zacks Consensus Estimate of $1.56 by 12.2%. Operating revenues totaled $3,972 million that surpassed the Zacks Consensus Estimate of $3,943 million by nearly 0.7%.
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks "Strong Sells" absolutely free >>