CMS Energy Corporation
) posted first-quarter 2014 earnings per share of 75 cents both
on an adjusted and GAAP basis. Quarterly figure surpassed the
Zacks Consensus Estimate of 64 cents by 17.2% and increased 41.5%
on a year-over-year basis.
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The outperformance was primarily driven by higher electricity
sales and natural gas deliveries as result of an extremely cold
weather, and the implementation of its business plan.
In the quarter under review, CMS Energy's operating revenues came
in at $2,523 million, beating the Zacks Consensus Estimate of
$2,167 million by 16.4%. On a year-over-year basis, top line
edged up 27.5% from $1,979 million.
The company's operating expenses were $2,115 million in
first-quarter, up 28.2% year over year.
Despite a surge in operating expenses, CMS Energy's operating
income jumped 24% year over year to $408 million, primarily on
the back of higher revenues.
In the quarter, interest charges increased 3.1% year over year to
$101 million due to higher debt level.
CMS Energy had cash and cash equivalents of $758 million as of
Mar 31, 2014, up from $172 million as of Dec 31, 2013.
As of Mar 31, 2014, total debt, capital leases and financing
obligations rose to $7,588 million from $7,227 million as of Dec
During the first three months of 2014, the company's cash
provided by operating activities was $611 million versus $725
million in the year-ago comparable period.
CMS Energy reiterated its earnings forecast for 2014 to $1.74 -
$1.78 per share. The guidance is consistent with the company's
long-term goal of 5% to 7% annual earnings per share growth.
In Michigan, CMS Energy intends to acquire a 540 megawatt
clean-burning natural gas power plant. The company plans to
complete the transaction in 2015.
The company continued with the construction of its 24-mile
Southwest Michigan pipeline project. This venture will enable the
company to provide reliable services to its natural gas
) reported first-quarter 2014 operational earnings of $2.29 per
share, beating the Zacks Consensus Estimate by 8.5%. Quarterly
earnings also increased 143.6% year over year.
CMS Energy currently has a Zacks Rank #2 (Buy). Other stocks in
the industry looking equally good are
NRG Energy, Inc.
). While NRG Energy carries a Zacks Rank #1 (Strong Buy), Ameren
holds a Zacks Rank #2 (Buy).