CMS Energy (CMS) Q3 Earnings Beat Estimates, Improve Y/Y
CMS Energy Corporation CMS reported third-quarter 2019 earnings per share (EPS) of 73 cents, up 23.7% from the year-ago quarter’s reported figure of 59 cents. The bottom line also beat the Zacks Consensus Estimate of 71 cents by 2.8%.
The year-over-year uptick in the bottom line can be attributed to improved operating income.
In the quarter under review, CMS Energy’s operating revenues totaled $1,546 million, which missed the Zacks Consensus Estimate of $1,651 million by 6.4%. The top line also fell 3.3% on a year-over-year basis.
The company’s operating expenses declined 8.4% to $1,195 million in the quarter under review.
Operating income in the third quarter was $351 million, up 19.4% from $294 million in the year-ago quarter.
CMS Energy’s interest charges were $133 million, up 16.7% from $114 million in the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy had cash and cash equivalents of $403 million as of Sep 30, 2019, up from $153 million as of Dec 31, 2018.
As of Sep 30, 2019, total debt, capital leases and financing obligations (excluding securitization debt) were $12,931 million, up from $11,500 million as of Dec 31, 2018.
At the end of the first nine months of 2019, cash from operating activities amounted to $1,395 million compared with $1,565 million in the year-ago period.
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. Currently, the Zacks Consensus Estimate for the company’s full-year earnings is pegged at $2.49, in line with the midpoint of the company’s projected guided range.
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.
Recent Utility Releases
NextEra Energy, Inc. NEE reported third-quarter 2019 adjusted earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 by 5.3%. Moreover, earnings were up 10.1% on a year-over-year basis.
Xcel Energy Inc. XEL posted third-quarter 2019 operating earnings of $1.01 per share, which lagged the Zacks Consensus Estimate of $1.05 by 3.8%. The bottom line increased 5.2% from the year-ago quarter.
American Electric Power Co., Inc. AEP reported third-quarter 2019 adjusted earnings per share (EPS) of $1.46, which surpassed the Zacks Consensus Estimate of $1.30 by 12.3%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Click to get this free report
CMS Energy Corporation (CMS): Free Stock Analysis Report
Xcel Energy Inc. (XEL): Free Stock Analysis Report
American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
NextEra Energy, Inc. (NEE): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.