CMS Energy's (CMS) Q2 Earnings & Revenues Miss Estimates

CMS Energy Corporation (NYSE:CMS) reported second-quarter 2019 adjusted earnings per share (EPS) of 33 cents, down 32.7% year over year. The bottom line also missed the Zacks Consensus Estimate of 44 cents by 25%.

Operational Performance

In the quarter under review, CMS Energy’s operating revenues summed $1,445 million, which missed the Zacks Consensus Estimate of $1,456 million by 0.8%. The top line also fell 3.2% on a year-over-year basis.

The company’s operating expenses declined 0.8% to $1,227 million in the quarter under review.

Operating income in the second quarter was $218 million, down 14.5% from $255 million in the year-ago quarter.

CMS Energy’s interest charges were $131 million, up 17% from $112 million in the year-ago period.

CMS Energy Corporation Price, Consensus and EPS Surprise

Financial Condition

CMS Energy had cash and cash equivalents of $312 million as of Jun 30, 2019, up from $153 million as of Dec 31, 2018.

As of Jun 30, 2019, total debt, capital leases and financing obligations (excluding securitization debt) were $12,135 million, up from $11,500 million as of Dec 31, 2018.

At the end of the first half of 2019, cash from operating activities amounted to $1,185 million compared with $1,416 million in the first half of 2018.

2019 Guidance

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.

Zacks Rank

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.

Upcoming Utility Releases

Dominion Energy (NYSE:D) is scheduled to report second-quarter 2019 results on Jul 31. The Zacks Consensus Estimate for earnings in the quarter to be reported is pegged at 79 cents.

Exelon Corp. (NYSE:EXC) is slated to report second-quarter 2019 results on Aug 1. The Zacks Consensus Estimate for earnings in the quarter is pegged at 63 cents.

A Recent Utility Release

NextEra Energy (NYSE:NEE) reported second-quarter 2019 adjusted earnings of $2.35 per share, beating the Zacks Consensus Estimate of $2.28 by 3.1%. Moreover, earnings were up 12.9% on a year-over-year basis

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