| CMS Energy Lags Q2 Earnings Estimates on Lower Revenues - Analyst Blog | |
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Jackson, MI-based CMS Energy Corporation CMS reported second-quarter 2015 adjusted earnings per share of 25 cents, missing the Zacks Consensus Estimate of 33 cents by 24.2%. Quarterly earnings also declined 16.7% from the year-ago figure primarily due to lower revenues. CMS Energy Corporation - Earnings Surprise | FindTheBest Operational Performance
In the quarter under review, CMS Energy’s operating revenues were $1,350 million, lagging the Zacks Consensus Estimate of $1,444 million by 6.5%. On a year-over-year basis, revenues declined 8%.
The company’s operating expenses declined nearly 7.1% year over year to $1,146 million.
Operating income was $204 million, down from $235 million a year ago.
CMS Energy’s interest charges came in at $103 million, a tad above $101 million in the prior-year period.
Financial Condition
CMS Energy had cash and cash equivalents of $477 million as of Jun 30, 2015, substantially up from $207 million as of Dec 31, 2014.
As of Jun 30, 2015, total debt, capital leases and financing obligations decreased marginally to $8,282 million from $8,312 million as of Dec 31, 2014.
In the first half of 2015, cash from operating activities was $1,262 million compared with $937 million in the year-ago period.
Guidance
CMS Energy reaffirmed its adjusted earnings per share guidance for 2015 of $1.86–$1.89. The company also reiterated its long-term adjusted earnings growth guidance of 5–7%.
Business Update
CMS Energy’s primary subsidiary – Consumers Energy Company – will be adding solar power to its renewable energy portfolio for the first time with 10 megawatts of capacity.
The company also disclosed its plans to retire seven of its oldest coal plants in Apr 2016. These units have an average age of 60 years and represent one-third of the company’s coal generating fleet. Meanwhile, CMS Energy is focused on upgrading its natural gas system across Michigan and it has planned an investment of $200 million for the same with an addition in the workforce.
Upcoming Releases
DTE Energy Co. DTE is expected to release its second-quarter results on Jul 24, 2015. The Zacks Consensus Estimate stands at 84 cents per share.
PG&E Corporation PCG is scheduled to release its second-quarter results on Jul 29, 2015. The Zacks Consensus Estimate for the quarter is pegged at 78 cents per share.
Edison International EIX is expected to release second-quarter results on Jul 30, 2015. The Zacks Consensus Estimate for the quarter is at 78 cents per share.
Zacks Rank
CMS Energy currently has a Zacks Rank #3 (Hold).
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CMS Energy Corporation
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CODE : CMS |
ISIN : US1258961002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CMS Energy is a producing company based in United states of america. CMS Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 16.7 billions as of today (€ 15.7 billions). Its stock quote reached its lowest recent point on April 18, 2014 at US$ 0.12, and its highest recent level on April 19, 2024 at US$ 59.28. CMS Energy has 282 420 406 shares outstanding. |