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CMS Energy (CMS) Q1 Earnings Miss Estimates, Revenues Up Y/Y

Zacks Equity Research

CMS Energy Corporation CMS reported first-quarter 2019 adjusted earnings per share (EPS) of 75 cents, down 12.8% year over year. The bottom line also missed the Zacks Consensus Estimate of 77 cents by 2.60%.

Operational Performance

In the quarter under review, CMS Energy’s operating revenues summed $2,059 million, which surpassed the Zacks Consensus Estimate of $1,935 million by 6.4%. The top line also improved 5.4% on a year-over-year basis.

The company’s operating expenses increased 6.9% to $1,700 million in the quarter under review.

Operating income in the first quarter was $359 million, down 1.1% from $363 million a year ago.

CMS Energy’s interest charges were $121 million, up 9% 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 $234 million as of Mar 31, 2019, up from $153 million as of Dec 31, 2018.

As of Mar 31, 2019, total debt, capital leases and financing obligations (excluding securitization debt) stood at $11,791 million, up from $11,500 million as of Dec 31, 2018.

At the end of the first three months of 2019, cash from operating activities amounted to $617 million compared with $708 million in the prior-year period.

2019 Guidance

CMS Energy reaffirmed its adjusted earnings per share guidance of $2.47-$2.51 for 2019, indicating 6-8% growth from the year-ago quarter’s reported figure.

Zacks Rank

CMS Energy currently sports a Zacks Rank #4 (Sell).

Recent Utility Releases

FirstEnergy Corp. FE, which carries a Zacks Rank #3 (Hold), delivered first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NextEra Energy, Inc. NEE, which carries a Zacks Rank #2 (Buy), reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.

DTE Energy Company DTE, which carries a Zacks Rank #2, reported first-quarter 2019 operating earnings per share (EPS) of $2.05 that exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.

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