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CMS Energy Corp. (NYSE:CMS) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.27%.
CMS Energy Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 56.25% to $0.25 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Rose 3.09% to $1.67 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CMS Energy Corp. reported adjusted EPS income of $0.25 per share. By that measure, the company beat the mean analyst estimate of $0.24. It missed the average revenue estimate of $1.82 billion.
Quoting Management: John Russell, CMS Energy’s president and chief executive officer, “In 2012, we reduced our operating costs by 2 percent and plan to cut them another 6 percent this year. Our overhead costs are the third lowest in the utility industry. There’s also good news for our gas customers. Our natural gas prices this winter dropped 10 percent from last winter’s prices and we expect to cut them another 15 percent in April.”
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