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CMS Energy (CMS) Beats on Q1 Earnings, Retains '18 Guidance
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CMS Energy Corporation (CMS - Free Report) reported first-quarter 2018 adjusted earnings per share of 86 cents, beating the Zacks Consensus Estimate of 82 cents. Quarterly earnings were up 21.12% from the year-ago quarter’s figure of 71 cents.
The improvement can be attributed to favorable weather conditions and cost-saving strategies.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy’s operating revenues came in at $1,953 million, which surpassed the Zacks Consensus Estimate of $1,829 million by 6.8%. Moreover, revenues rose 6.8% on a year-over-year basis.
The company’s operating expenses were up 10.3% year over year to $1,590 million.
In first-quarter 2018, operating income was $363 million, down 6.4% from $388 million in the year-ago quarter.
CMS Energy’s interest charges rose 3.7% to $111 million, compared with $107 million in the year-ago quarter.
Financial Condition
CMS Energy had cash and cash equivalents of $195 million as of Mar 31, 2018, up from $182 million as of Dec 31, 2017.
As of Mar 31, 2018, total debt, capital leases and financing obligations were $10,066 million, down from $10,185 million as of Dec 31, 2017.
Net cash from operating activities was $708 million as of Mar 31, 2018, compared with $646 million as of Dec 31, 2017.
Guidance
CMS Energy reaffirmed its guidance for 2018 adjusted earnings at $2.30-$2.34 per share.
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%.
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CMS Energy (CMS) Beats on Q1 Earnings, Retains '18 Guidance
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2018 adjusted earnings per share of 86 cents, beating the Zacks Consensus Estimate of 82 cents. Quarterly earnings were up 21.12% from the year-ago quarter’s figure of 71 cents.
The improvement can be attributed to favorable weather conditions and cost-saving strategies.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation Price, Consensus and EPS Surprise | CMS Energy Corporation Quote
Operational Performance
CMS Energy’s operating revenues came in at $1,953 million, which surpassed the Zacks Consensus Estimate of $1,829 million by 6.8%. Moreover, revenues rose 6.8% on a year-over-year basis.
The company’s operating expenses were up 10.3% year over year to $1,590 million.
In first-quarter 2018, operating income was $363 million, down 6.4% from $388 million in the year-ago quarter.
CMS Energy’s interest charges rose 3.7% to $111 million, compared with $107 million in the year-ago quarter.
Financial Condition
CMS Energy had cash and cash equivalents of $195 million as of Mar 31, 2018, up from $182 million as of Dec 31, 2017.
As of Mar 31, 2018, total debt, capital leases and financing obligations were $10,066 million, down from $10,185 million as of Dec 31, 2017.
Net cash from operating activities was $708 million as of Mar 31, 2018, compared with $646 million as of Dec 31, 2017.
Guidance
CMS Energy reaffirmed its guidance for 2018 adjusted earnings at $2.30-$2.34 per share.
Zacks Rank
CMS Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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