CMS Energy Corporation Earnings Cheat Sheet: Powering Ahead

S&P 500 (NYSE:SPY) component CMS Energy Corporation (NYSE:CMS) reported its results for the second quarter. CMS Energy Corp. is a Michigan-based energy company.

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CMS Energy Earnings Cheat Sheet for the Second Quarter

Results: Net income for CMS Energy Corporation rose to $100 million (38 cents per share) vs. $82 million (32 cents per share) in the same quarter a year earlier. This marks a rise of 22% from the year earlier quarter.

Revenue: Rose 1.8% to $1.36 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CMS reported adjusted net income of 26 cents per share. By that measure, the company fell short of mean estimate of 27 cents per share. It beat the average revenue estimate of $1.05 billion.

Quoting Management: “Our focus is on delivering value to customers and we’re working hard every day to provide our customers with safe, reliable, and affordable energy service,” said John Russell, CMS Energy’s president and chief executive officer. “We’re making substantial investments in renewable energy, environmental quality, energy efficiency, and our natural gas infrastructure. Along with providing value to customers, these investments are creating jobs and boosting the state’s economy. We have set aggressive cost control goals to help hold down costs for customers. Our plan calls for base rate increases to be at or below the rate of inflation for the next five years.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 53.4% and in the fourth quarter of the last fiscal year, the figure rose 80%.

From the first quarter, the company’s current liabilities fell to $1.12 billion from $2.29 billion.

Revenue has risen the past four quarters. Revenue increased 4.5% to $2.06 billion in the first quarter. The figure rose 5.3% in the fourth quarter of the last fiscal year from the year earlier and climbed 13.3% in the third quarter of the last fiscal year from the year-ago quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 51 cents versus a mean estimate of net income of 44 cents per share.

Competitors to Watch: DTE Energy Company (NYSE:DTE), Wisconsin Energy Corp. (NYSE:WEC), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), Ameren Corporation (NYSE:AEE), Avista Corporation (NYSE:AVA), CH Energy Group, Inc. (NYSE:CHG), Dominion Resources, Inc. (NYSE:D), SCANA Corporation (NYSE:SCG), and PG&E Corporation (NYSE:PCG).

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(Source: Xignite Financials)