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CMS Energy (CMS) Beats on Q3 Earnings, Ups 2018 Guidance

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CMS Energy Corporation CMS reported third-quarter 2018 adjusted earnings per share (EPS) of 59 cents. The figure also surpassed the Zacks Consensus Estimate of 57 cents by 3.5%.

This company delivered GAAP earnings of 59 cents in the reported quarter compared with 61 cents in the prior-year period.

Operational Performance

In the quarter under review, CMS Energy’s operating revenues summed $1,599 million, beating the Zacks Consensus Estimate as well as the year-ago figure of $1,527 million by 4.7%.

The company’s operating expenses increased 9% to $1,305 million during the quarter under discussion.

Operating income during the third quarter was $294 million, down 10.9% from $330 million a year ago.

CMS Energy’s interest charges were $114 million, up 2.7% from $111 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 $323 million as of Sep 30, 2018, up from $182 million as of Dec 31, 2017.

As of Sep 30, 2018, debt, capital leases and financing obligations stood at $9,370 million, up from $8,940 million as of Dec 31, 2017.

At the end of first nine months of 2018, cash from operating activities was $1,565 million compared with $1,199 million in the year-ago period.

2018 Guidance

CMS Energy raised its 2018 adjusted earnings per share projection to the range of $2.31-$2.34 from the previous expectation of $2.30-$2.34. Also, the company provided bottom line forecast in the band of $2.46-$2.50 per share for 2019, reflecting 6-8% adjusted earnings growth.

Zacks Rank

CMS Energy currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Upcoming Releases

Dominion Energy D is scheduled to report third-quarter 2018 results on Nov 1. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.11.

Eversource Energy ES is set to announce third-quarter 2018 results on Nov 1. The consensus estimate for the to-be-reported quarter’s bottom line stands at 88 cents.

Exelon Corp. EXC is slated to release third-quarter 2018 results on Nov 1. The consensus mark for earnings in the quarter to be reported is projected at 86 cents.

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