Power provider CMS Energy second-quarter profit climbs 35%
July 27 (Reuters) - U.S. electric and gas utility CMS Energy posted a 34.5% rise in second-quarter profit on Thursday, helped by lower operating expenses.
CMS also reaffirmed its annual adjusted earnings forecast of $3.06 to $3.12 per share, while analysts are expecting $3.11 per share, according to Refinitiv data.
Operating expenses fell 22% to $1.31 billion in the three months ended June 30. However, interest charges for the quarter rose 27% to $160 million.
Analysts had flagged the reported quarter to be likely a fairly weak one across the industry due to continued mild weather and interest expense pressure.
CMS said net income available to common stockholders rose to $195 million, or 67 cents per share, for the April-June quarter, from $145 million, or 50 cents per share, in the year-ago quarter.
On an adjusted basis, CMS posted a profit of 75 cents per share, ahead of estimates of 70 cents. (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)
