CMS Energy Earnings: Here’s Why the Stock is Up Now
CMS Energy Corp. (NYSE:CMS) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.79%.
CMS Energy Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 27.5% to $0.29 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Rose 5.48% to $1.41 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CMS Energy Corp. reported adjusted EPS income of $0.29 per share. By that measure, the company missed the mean analyst estimate of $0.34. It beat the average revenue estimate of $1.37 billion.
Quoting Management: “We’re focused on providing customers with safe, reliable and affordable service,” said John Russell, CMS Energy’s president and chief executive officer. “Our plan to accelerate several cost reduction measures should allow us to avoid electric and gas base rate increases and hold down prices.”
Key Stats (on next page)…