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%.
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-eps-surprise-chart | CMS Energy Corporation Quote
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.
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.
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
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