CMS Energy Corporation CMS reported fourth-quarter 2018 adjusted earnings per share (EPS) of 40 cents, down 21.6% year over year. The bottom line also missed the Zacks Consensus Estimate of 41 cents by a penny.
The company delivered GAAP earnings of 38 cents against a loss of a penny incurred in the prior-year period.
For 2018, CMS Energy’s adjusted EPS came in at $2.33, up 7.4% from the prior-year figure of $2.17. The figure missed the Zacks Consensus Estimate of $2.34 by a penny.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation Price, Consensus and EPS Surprise | CMS Energy Corporation Quote
Operational Performance
In the quarter under review, CMS Energy’s operating revenues summed $1,829 million, which outshined the Zacks Consensus Estimate of $1,535 million by 19.2%. The top line improved 2.9% on a year-over-year basis.
For 2018, operating revenues totaled $6.87 billion, which exceeded the Zacks Consensus Estimate of $6.64 billion by 3.5%. Annually revenues improved 4.4%.
The company’s operating expenses increased 12.9% to $1,579 million in the quarter under review.
Operating income in the fourth quarter was $250 million, down 34% from $379 million a year ago.
CMS Energy’s interest charges were $121 million, up 10% from $110 million in the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $153 million as of Dec 31, 2018, down from $182 million as of Dec 31, 2017.
As of Dec 31, 2018, debt, capital leases and financing obligations stood at $9,646 million, up from $8,940 million as of Dec 31, 2017.
At the end of 2018, cash from operating activities amounted to $1,703 million compared with $1,705 million in the prior year.
2019 Guidance
CMS Energy currently expects its adjusted earnings per share in the range of $2.47-$2.51 in 2019, up from its prior forecast of $2.46-$2.50.
Zacks Rank
CMS Energy currently sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
American Electric Power Co., Inc. AEP reported fourth-quarter 2018 operating earnings per share (EPS) of 72 cents in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. NEE reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which fell short of the Zacks Consensus Estimate of $1.51 by 1.3%.
Xcel Energy Inc. XEL posted fourth-quarter 2018 operating earnings of 42 cents per share in line with the Zacks Consensus Estimate.
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