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CMS Energy (CMS) Beats on Q1 Earnings, Retains '18 Guidance

CMS Energy Corporation CMS reported first-quarter 2018 adjusted earnings per share of 86 cents, beating the Zacks Consensus Estimate of 82 cents. Quarterly earnings were up 21.12% from the year-ago quarter’s figure of 71 cents.

The improvement can be attributed to favorable weather conditions and cost-saving strategies.

CMS Energy Corporation Price, Consensus and EPS Surprise

 

CMS Energy Corporation Price, Consensus and EPS Surprise | CMS Energy Corporation Quote

Operational Performance

CMS Energy’s operating revenues came in at $1,953 million, which surpassed the Zacks Consensus Estimate of $1,829 million by 6.8%. Moreover, revenues rose 6.8% on a year-over-year basis.

The company’s operating expenses were up 10.3% year over year to $1,590 million.

In first-quarter 2018, operating income was $363 million, down 6.4% from $388 million in the year-ago quarter.

CMS Energy’s interest charges rose 3.7% to $111 million, compared with $107 million in the year-ago quarter.

Financial Condition

CMS Energy had cash and cash equivalents of $195 million as of Mar 31, 2018, up from $182 million as of Dec 31, 2017.

As of Mar 31, 2018, total debt, capital leases and financing obligations were $10,066 million, down from $10,185 million as of Dec 31, 2017.

Net cash from operating activities was $708 million as of Mar 31, 2018, compared with $646 million as of Dec 31, 2017.

Guidance

CMS Energy reaffirmed its guidance for 2018 adjusted earnings at $2.30-$2.34 per share.

Zacks Rank

CMS Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Peer Releases

FirstEnergy Corporation FE reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.

NextEra Energy, Inc. NEE reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.

DTE Energy DTE reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%.

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CMS Energy Corporation (CMS) : Free Stock Analysis Report
 
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
 
FirstEnergy Corporation (FE) : Free Stock Analysis Report
 
DTE Energy Company (DTE) : Free Stock Analysis Report
 
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