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CMS Energy (CMS) Beats on Q3 Earnings, Ups 2018 Guidance
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CMS Energy Corporation (CMS - Free Report) 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 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.
Dominion Energy (D - Free Report) 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 - Free Report) 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 - Free Report) 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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CMS Energy (CMS) Beats on Q3 Earnings, Ups 2018 Guidance
CMS Energy Corporation (CMS - Free Report) 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 - Free Report) 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 - Free Report) 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 - Free Report) 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.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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