Back to top

CMS Energy (CMS) Misses Q2 Earnings, Retains '17 EPS View

Read MoreHide Full Article

Jackson, MI-based CMS Energy Corporation (CMS - Free Report) reported second-quarter 2017 earnings per share of 33 cents. The figure missed the Zacks Consensus Estimate of 41 cents by 19.5%. Quarterly earnings also dropped 26.7% from the year-ago figure of 45 cents.

Operational Performance

In the quarter under review, CMS Energy’s operating revenues came in at $1,449 million, beating the Zacks Consensus Estimate of $1,355.5 million by nearly 7%. Moreover, on a year-over-year basis, revenues improved 5.7% from $1,371 million.

The company’s operating expenses increased 10.2% to $1,208 million during the quarter.

Operating income during the second quarter was $241 million, down 12.4% from $275 million a year ago.

CMS Energy’s interest charges were $110 million, up 1.9% from $108 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 $418 million as of Jun 30, 2017, up from $235 million as of Dec 31, 2016.

As of Jun 30, 2017, total debt, capital leases and financing obligations stood at $9,715 million, up from $9,706 million as of Dec 31, 2016.

At the end of the second quarter, cash from operating activities was $1,119 million compared with $1,101 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.

Recent Peer Releases

PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share (EPS) of 86 cents in the second quarter of 2017 surpassed the Zacks Consensus Estimate of 79 cents by 8.9%. Earnings were also up 30.3% from 66 cents reported in the year-ago quarter.

DTE Energy Company (DTE - Free Report) reported second-quarter 2017 operating earnings per share (EPS) of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.

NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up 11.4% year over year.

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>



More from Zacks Analyst Blog

You May Like