Stock Monitor: Hawaiian Electric Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 18, 2018 / If you want access to our free earnings report on CMS Energy Corp. (NYSE: CMS), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CMS. The Company posted its financial results on April 26, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Company reported a y-o-y rise in its operating revenues and diluted earnings per share (EPS), outperforming market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Hawaiian Electric Industries, Inc. (NYSE: HE), which also belongs to the Utilities sector as the Company CMS Energy. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=HE
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CMS Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=CMS
Earnings Highlights and Summary
For Q1 FY18, CMS Energy’s operating revenues came in at $1.95 billion, which were above the $1.83 billion recorded at the end of Q1 FY17. The Company’s revenue numbers for the reported quarter beat market expectations of $1.83 billion.
The electric utility Company reported a net income available to common stockholders of $241 million, or $0.86 per diluted share, in Q1 FY18 compared to $199 million, or $0.71 per diluted share, in Q1 FY17. Meanwhile, market analysts had forecasted the Company to report diluted earnings of $0.82 per diluted share for Q1 FY18.
Earnings Metrics
For Q1 FY18, the Jackson, Michigan-based Company’s operating expenses were $1.59 billion compared to $1.44 billion in the last year’s same quarter. During the reported quarter, the Company’s operating income was $363 million versus $388 million in Q1 FY17. The Company’s other income was $29 million in Q1 FY18, up from $14 million in Q1 FY17. The Company incurred interest charges of $111 million in Q1 FY18, up from $107 million in Q1 FY17. Furthermore, the Company’s income before income taxes stood at $281 million in Q1 FY18 versus $295 million in Q1 FY17.
Cash Matters and Balance Sheet
In the three months ended March 31, 2018, CMS Energy generated cash from operations of $708 million versus $646 million in the prior year’s comparable period. The Company’s cash and cash equivalents balance stood at $195 million as on March 31, 2018, compared to $182 million at the close of books on December 31, 2017. The Company reported total debt, capital leases, and financing obligations of $10.07 billion as on March 31, 2018, marginally below the $10.19 billion reported as on December 31, 2017.
Dividend
In a separate press release on April 19, 2018, CMS Energy’s Board of Directors declared a quarterly common stock dividend of $0.3575 per share. The dividend is payable on May 31, 2018, to shareholders of record as on May 04, 2018.
Outlook
For the full year FY18, CMS Energy reaffirmed its adjusted earnings per share guidance range of $2.30 to $2.34, or 6% to 8% of annual adjusted earnings per share growth.
Stock Performance Snapshot
May 17, 2018 - At Thursday’s closing bell, CMS Energy’s stock was slightly down 0.72%, ending the trading session at $44.08.
Volume traded for the day: 1.62 million shares.
Stock performance in the previous three-month period – up 0.78%
After yesterday’s close, CMS Energy’s market cap was at $12.41 billion.
Price to Earnings (P/E) ratio was at 19.10.
The stock has a dividend yield of 3.24%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry.
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