U.S. Markets open in 9 mins

CMS Energy's (CMS) Q2 Earnings & Revenues Miss Estimates

Zacks Equity Research

CMS Energy Corporation CMS reported second-quarter 2019 adjusted earnings per share (EPS) of 33 cents, down 32.7% year over year. The bottom line also missed the Zacks Consensus Estimate of 44 cents by 25%.

Operational Performance

In the quarter under review, CMS Energy’s operating revenues summed $1,445 million, which missed the Zacks Consensus Estimate of $1,456 million by 0.8%. The top line also fell 3.2% on a year-over-year basis.

The company’s operating expenses declined 0.8% to $1,227 million in the quarter under review.

Operating income in the second quarter was $218 million, down 14.5% from $255 million in the year-ago quarter.

CMS Energy’s interest charges were $131 million, up 17% from $112 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 price-consensus-eps-surprise-chart | CMS Energy Corporation Quote

Financial Condition

CMS Energy had cash and cash equivalents of $312 million as of Jun 30, 2019, up from $153 million as of Dec 31, 2018.

As of Jun 30, 2019, total debt, capital leases and financing obligations (excluding securitization debt) were $12,135 million, up from $11,500 million as of Dec 31, 2018.

At the end of the first half of 2019, cash from operating activities amounted to $1,185 million compared with $1,416 million in the first half of 2018.

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 carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Utility Releases

Dominion Energy D is scheduled to report second-quarter 2019 results on Jul 31. The Zacks Consensus Estimate for earnings in the quarter to be reported is pegged at 79 cents.

Exelon Corp. EXC is slated to report second-quarter 2019 results on Aug 1. The Zacks Consensus Estimate for earnings in the quarter is pegged at 63 cents.

A Recent Utility Release

NextEra Energy NEE reported second-quarter 2019 adjusted earnings of $2.35 per share, beating the Zacks Consensus Estimate of $2.28 by 3.1%. Moreover, earnings were up 12.9% on a year-over-year basis

This Could Be the Fastest Way to Grow Wealth in 2019

Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.

These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.

Click here to see these breakthrough stocks now >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Dominion Energy Inc. (D) : Free Stock Analysis Report
 
CMS Energy Corporation (CMS) : Free Stock Analysis Report
 
Exelon Corporation (EXC) : Free Stock Analysis Report
 
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research